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New Zealand’s housing confidence soars to 15-year high as mortgage rates plummet

A historic shift is underway in New Zealand’s property landscape. With mortgage rates at their lowest in years, buyers are rushing in—but will prices follow?

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1 min read
In the image there is a house with brick walls, windows, doors, stairs, railings, roofs and...
In the image there is a house with brick walls, windows, doors, stairs, railings, roofs and pillars. In front of the house there is grass, pole with a lamp. And also there are trees and plants.

New Zealand’s housing confidence soars to 15-year high as mortgage rates plummet

Confidence in New Zealand’s housing market has reached its highest point in 15 years. The shift comes as mortgage rates fall and more properties enter the market, creating what economists describe as a 'buyer’s market'. The Reserve Bank’s official cash rate now sits at 2.25%, down sharply from its July 2024 peak of 5.5%. This drop has fuelled optimism among potential buyers, with 28% of respondents in the ASB Housing Confidence Survey believing it is a good time to purchase property. The housing market’s outlook has brightened, with falling mortgage rates and improved affordability driving confidence. While price growth remains modest, the stage is set for a steadier market in the coming years.

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