New Zealand’s housing confidence hits 15-year high as mortgage rates drop
Confidence in New Zealand’s housing market has reached its highest point in 15 years. A growing number of buyers believe now could be the right moment to enter the market, with lower mortgage rates and more property options available.
The latest ASB Housing Confidence Survey shows 28% of respondents think it is a good time to buy. This optimism follows a drop in the Reserve Bank’s official cash rate to 2.25%, down from its peak of 5.5% in July 2024. More than half of those surveyed (54%) also expect mortgage rates to fall further.
The current market conditions—lower rates and higher listings—are giving buyers more confidence. Those who have been waiting may find this a good time to act, as mortgage rates could soon reach their lowest point. A mild recovery in prices is expected, but growth will likely remain steady rather than sharp.
