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Wellington Market Update | April 2025

Shifting Seasons, Shifting Sentiment: A Brighter Outlook for the Property Market?

As the days shorten and we edge further into autumn, the housing market is showing signs of warming up—rather than winding down. While this time of year traditionally signals a slowdown in property activity, some of the team at Tommy’s Real Estate are observing quite the opposite.

Chris Robinson, one of Tommy’s top agents, notes a growing sense of urgency among buyers. “We’re definitely seeing more people active in the marketplace,” he says. “There are more offers coming through on properties—particularly in the first home and family home brackets. There’s noticeably more competition.”

Alexia Stoddart, also among the agency’s top performers, agrees. “As more buyers secure pre-approval—which tends to last around three months—they’re positioning themselves to act quickly and, ideally, offer unconditionally,” she explains. “There’s a sense now that the market has bottomed out, and people feel it’s a good time to invest in their next home.”

That said, today’s buyers aren’t diving in blindly. “People are definitely being more cautious,” Chris adds. “We’re seeing less of that over-stretching just to secure a home. Buyers are taking their time, shopping around, and looking for value.”

Despite the more measured approach, demand remains strong—particularly for well-presented homes. “We’re listing quality properties every week,” Alexia says. “Some of them are receiving multiple offers and even selling before the advertised tender close date.”

Chris echoes the sentiment. “There’s been a noticeable uptick in buyer activity. While it’s normal for listing numbers to dip around this time of year, that slight drop in stock is creating more competition for what’s currently available.”

Looking ahead, the team expects momentum to continue into the New Year. “Stock levels typically rise in the first quarter as people reassess their plans,” Alexia explains. “But we’re also seeing more confidence in the market right now—thanks to easing interest rates, reduced inflation, and a more positive economic outlook.”

That optimism is translating into action. “We’re achieving strong results, with some properties selling well above the buyer enquiry level,” she adds.

Chris attributes the current volume of listings to pent-up supply from sellers who’ve been waiting for the right time to move. “The recent drop in interest rates has certainly injected more confidence into the market,” he says. “It’s prompted a wave of vendors to take the plunge in hopes of a successful sale.”

One sure sign of this renewed confidence is the rise in property appraisals. “Vendors are clearly responding to the improved sentiment,” Alexia says. “We’re seeing a steady stream of appraisal requests, which shows people believe they can still achieve a strong price.”

Chris concurs. “Some homeowners have been holding off for quite some time,” he says. “While a few are still playing the waiting game, the overall number of potential sellers is holding steady.”

So, while the nights may be drawing in, the property market is far from cooling off. If anything, there’s a quiet buzz building—suggesting brighter days could be just around the corner.