Here’s where it gets interesting.

More properties are selling. But there are more listings coming to market, too.

Demand is up. But, so is supply.

Remember Covid? You walked into a supermarket. The shelves were empty. There was no toilet paper. So, you grabbed whatever you could.

Today, the shelves are full (both in the supermarkets and in terms of property). 

Property buyers have more choice. So they take their time. They can view more properties. And they negotiate harder.

According to Tony Alexander’s Real Estate Agent survey, way more agents are calling it a buyer’s market rather than a seller’s one. 

So, if you are a seller, you need to be realistic about price. 

If you want to hold out for a premium price, you could be waiting for years. 

When will the housing market get better?

The market is getting better – at least when you look at prices. 

But it’s a small turnaround rather than a large leap up.

Seasonally adjusted house prices show us whether underlying prices are going up or down. 

It takes out factors like house prices going down in December (due to Christmas) and then bouncing back in February.

So, this gives us a better sense of whether the market is getting better or worse.

• Over the last 6 months, seasonally adjusted house prices went up in 5 out of those 6 months.
• In the 6 months before that, they went down 5 out of 6 times.

That tells us the market is turning a corner. Prices are rising again—even if it doesn’t feel like it on the surface.

I see this as a big opportunity. 

You can buy a property in a market that’s turning around but still negotiate hard. 

How I’m taking advantage of the market

Here’s what I’m personally doing to make the most of it (while it lasts).

Because there’s so much stock out there, I force developers to get a registered valuation on their properties. 

Then, I haggle them down, and the investors who use Opes get a discount.

On average, I’m getting 4.3% off the valuation. 

There’s one property I’m helping an investor with. It’s in Christchurch and has a registered valuation of $605k. The investor is getting it for $579k. 

So it’s about $26,000 undervaluation (4.3%). 

Though that’s just the average property. 

Half the time, I see investors who work with Opes buy $6k - $51k under the registered valuation. 

Keep in mind that those bigger numbers (like a $50k discount) are for slightly higher-priced properties. 

It’s easier to negotiate $50k off a $900k property rather than a $500k property.

This kind of negotiation doesn’t happen in a hot market. It only happens when buyers have the upper hand. And if you know what to look for.

These numbers should give you a sense of what’s possible. 

Yes – there are lots of houses for sale. 

That’s good if you’re growing a portfolio. 

More listings = more power in your hands. Use it while it lasts.

And if you want to talk about the sort of deals you could get (before the window closes), you can book a meeting with my team here.