The Hibiscus Coast housing market is experiencing a stable yet subdued period, with buyers exercising caution amidst consistent market conditions.

Vanessa Jardim, Franchise Owner at Mike Pero Real Estate Millwater, notes that the market remains steady, with buyers often waiting or making cheeky offers, contributing to a widening gap between buyer and seller expectations.

“Things have remained fairly consistent week to week, and for now, buyers are keen but cautious,” Jardim said.

“With prices nearing their lowest and plenty of stock available, we are hopeful for a market revival, though this change is unpredictable and might take up to six months or more.”

Recent regulatory changes, including adjustments to interest deductibility and loan-to-value ratios, have yet to significantly impact the market.

However, stability in property prices offers a silver lining for both buyers and sellers.

Data from the Real Estate Institute of New Zealand (REINZ) shows that prices and volumes are up year-on-year, although prices have gradually declined, with a further dip in May.

The REINZ House Price Index fell 5.9% over the past seven months since October, with a 4% drop across Auckland.

Median prices initially appeared to rebound in April, but adjusted figures reveal a continued decline in May, now down around 2% across Auckland since October.

Despite this, median prices are up 3% year-on-year.

In Silverdale, sales volumes have tightened as expected for winter, with 13 sales in June, down from 18 in June 2023.

The average number of days properties remain on the market has increased to 81 days, up from 55 days last year.

Stock levels remain steady despite a slow winter decline, and auction clearance rates continue to soften.

Jardim anticipates more listings and a smaller buyer pool over spring, with many homeowners planning to list their properties in October.

As the market navigates these changes, the outlook remains cautiously optimistic for both buyers and sellers on the Hibiscus Coast.