Fraser Holland: Not out of the woods yet

The real estate market as a whole is slowly recovering, whereas the premium sector has been less impacted, displaying more consistency.

Fraser Holland, Executive Director of Central Region at New Zealand Sotheby’s International Realty (NZSIR), shares valuable insights on the resilient nature of the premium real estate market amidst economic fluctuations and political transitions.

As we navigate through the currents of the real estate market in regional New Zealand, the landscape is marked by a sense of sluggishness, with low transaction volumes characterising the past year. While there has been a welcome pause in the decline of property values, the turnaround for the majority of the market remains gradual and measured.

At New Zealand Sotheby’s International Realty we delve into the nuances of the premium segment of the residential and lifestyle market. At NZSIR, the focus extends beyond mere transactions to curate an experience that revolves around homes with unique attributes – be it architectural brilliance, quality construction, prime locations, or the exclusive lifestyle they promise. In this realm of premium real estate, the past year has been resilient. While the broader market is experiencing the early stages of a gradual value recovery, the premium sector has demonstrated remarkable stability. Homes at this level, distinguished by their exceptional qualities, have not only weathered the storm but, in many instances, have maintained or even appreciated in value over the last two years.

The discerning nature of the premium market has proven to be a safeguard against the fluctuations seen in the mass market.

As we witness political transitions, policy adjustments, and economics fluctuations, I remain alert. The positive signals emanating from potential policy changes offer a glimmer of hope, but the road to a robust and sustained recovery is likely to be a gradual one, requiring resilience and adaptability in the face of ongoing challenges.

New Zealand Sotheby’s International Realty stands as a beacon for those contemplating a change in their residential circumstances. Whether considering downsizing to a more manageable property or up-sizing to a residence that better suits evolving needs, engaging with a Sotheby’s expert can illuminate the path forward. As local professionals who specialise in understanding the intricacies of the premium market, we can offer tailored advice that aligns with an individual’s aspirations and financial considerations.

With the upcoming summer holidays on the horizon, now is an opportune moment for homeowners to explore the possibilities of a real estate transition and considering “What’s Next?”

Take advantage of this season. I encourage property owners to initiate discussions with our experts, laying the groundwork for a strategic market entry in the robust summer period. These months often witness heightened market activity and a renewed interest from potential buyers, especially those choosing to leave the big cities and bright lights of Auckland, Wellington, Sydney, London etc. for the soft and warmer lights of regions like the ones we are accustomed to living in.

The collaborative approach at New Zealand Sotheby’s International Realty extends beyond a mere transactional dynamic, focusing on a comprehensive understanding of clients’ unique needs. As the market undergoes shifts influenced by political changes and economic fluctuations, NZSIR remains steadfast in its commitment to delivering unparalleled service in the premium real estate arena. While we are not out of the woods yet, the invitation is extended to homeowners to not only contemplate change but to embark on a journey with the expertise and support of a partner dedicated to elevating the experience of buying or selling premium property.