Welcome to the April 2025 Market Update.
As we step into April, let’s take a moment to reflect on the recent trends in the Kerikeri real estate market and broader economic indicators that may influence your property decisions.
Kerikeri Market Snapshot: January – March 2025
| Metric | Jan-Mar 2025 | Oct-Dec 2024 |
|---|---|---|
| Total Sales | 78 | 159 |
| Average Sale Price | $857,037 | $1,015,041 |
| Highest Sale Price | $3,490,000 | $8,125,000 |
| Lowest Sale Price | $110,000 | $73,000 |
| Average Days on Market | 204 | 123 |
The first quarter of 2025 saw a noticeable slowdown in the Kerikeri property market compared to the previous quarter. Total sales decreased by approximately 51%, and the average sale price declined by about 15.6%. Properties also remained on the market longer, with average days increasing from 123 to 204 days.
Economic Indicators and Mortgage Rates
In February 2025, the Reserve Bank of New Zealand (RBNZ) reduced the Official Cash Rate (OCR) by 50 basis points to 3.75%, aiming to stimulate economic growth. This move has led to significant reductions in mortgage rates across major banks. As of early April 2025, the advertised one-year fixed mortgage rates are as follows:
- Westpac NZ: 5.29% p.a. (as of April 3, 2024)
- ANZ: 5.29% p.a. (as of April 3, 2024)
- BNZ: 5.29% p.a. (as of April 3, 2024)
These reductions present potential opportunities for both current homeowners and prospective buyers to secure more favorable financing.
Looking Ahead
The recent OCR cuts and subsequent mortgage rate reductions are designed to invigorate the housing market. While the first quarter showed a slowdown, these economic stimuli may lead to increased activity in the coming months. It’s also noteworthy that New Zealand’s economy grew by 0.7% in the fourth quarter of 2024, indicating a positive trajectory after previous contractions. However, as of this morning (3rd of April) we have seen the Trump administration continue their tariffs, and NZ has not been left untouched – so it will be interesting to see what this change brings about.
As always, staying informed and considering both market trends and economic indicators is crucial when making property decisions. If you have any questions or need personalised advice, feel free to reach out.