View Lower North Island Editorial and Insights

Kiwis are facing new challenges in 2023, particularly in the building, property and construction sectors. Property Council New Zealand chief executive Leonie Freeman explains the value of advocacy in this area.

Anecdotal evidence suggests Wellington’s broader residential marketplace is settling into a consistent pace of activity, which is a feature we expect to continue to year-end as economic uncertainties and October’s general election contribute to a more muted rate of growth.

The residential market across the Hutt Valley has kicked into gear, with buyer sentiment improving and a general consensus that we may have left peak pessimism in 2022.

Early indications of increasing positivity across Kapiti’s residential sales market are pleasing homeowners, following uncertain footing over the latter half of 2022.

Now acclimated to market conditions following the initial cost-of-living squeeze and the rise of mortgage lending rates, sellers across the region are more willing to meet the market, undertaking negotiations with qualified buyers and getting a greater number of deals over the line.

Residential sales activity continues to pick up across our region, as evidenced by increased attendance at open homes, in Bayleys’ auction rooms and through an uptick in listing enquiry, particularly visible through our website analytics.

Our region continues to outperform the rest of the country in terms of residential sales activity and recent sale results, with early indications that the regression rate has started to slow.