Rodney real estate round-up

The Rodney property market stabilised last year after a prolonged slowdown (2022 to 2024) with prices no longer falling and sales activity lifting over the past six months, Ray White Synergy licensed agent Greg Allen-Baines said.

“Generally housing prices have plateaued. They’re not going backwards anymore. Not from my observations anyway. If your house is well-presented and well-priced, you usually don’t have too much problem selling it.”

He added that properties under $1.4 million continued to change hands steadily.

Falling interest rates had encouraged buyers back into the market, but the bigger shift had been banks loosening lending restrictions.

Allen-Baines said many banks had eased how closely they scrutinised everyday spending, which had previously excluded many borrowers, and as a result first-home buyers were becoming more visible.

“A few years ago, we were hardly seeing any first-home buyers, but right now they make up about 15 per cent of people purchasing property.”

While sales volumes had only increased modestly, it was significant enough to say the market had changed across most housing types, particularly over recent months.

“The market is better for cheaper houses (under $1 million), but more expensive housing stock isn’t doing too badly either.”

Looking ahead, Allen-Baines said confidence was continuing to build and he expected more listings early this year as the job market improved.

“The general feeling out there at the moment is one of optimism. The market is looking pretty good for the next 12 months.”

Meanwhile, at Warkworth Ridge, Harcourts’ Amy Wagstaff said momentum had picked up at the housing development over the past year, with a noticeable lift in sales and buyer enquiries.

Sales activity had gradually improved over the past six months, before accelerating more sharply in November and December.

“There are about 85 houses built now and over 100 houses in the process of being built. Almost 30 properties have sold, with around 25 to 30 households now living there.”

Wagstaff said consistent reductions to the Official Cash Rate (OCR) over the past 12 months (and consequently the banks offering lower interest rates) had played a role in renewing buyer confidence.

“Since the last OCR drop, it’s definitely encouraged people to start looking at sections and house and land packages here even more.”

She said recent buyers at Warkworth Ridge had largely been second or third-home buyers relocating from outside the area, and even beyond Auckland’s borders with one buyer moving from Tauranga.

Wagstaff added that people looking to purchase were attracted to the development by the ability to build brand new homes, access to the area’s growing infrastructure, and Warkworth’s amenities.

“A lot of buyers are seeing how much Warkworth has to offer in terms of the sports fields right next door to the development, the shopping centre that’s coming in and then there’s the old historical part of the township.”

Overall, Wagstaff said the housing development was becoming more established with homes completed, more under construction and residents already living there.

In general New Zealand’s housing market delivered a year of broad stagnation last year, Cotality NZ said.

Chief property economist Kelvin Davidson said the year had largely been defined by conflicting forces.

“While lower mortgage rates and continued access to finance have supported buyers, the recovery has been significantly limited by other factors.

“A sluggish economy and rising unemployment rate have weighed on the housing market, keeping the general value trend broadly flat across much of the country.”

Davidson said despite the extended flat patch for values, there had also been significant activity beneath the surface.

“First home buyers have remained very strong, hovering as high as 28 to 29 per cent of overall purchasing activity, while 2025 has also seen a comeback by mortgaged multiple property owners.”

Looking ahead, Davidson said the regulatory environment in an election year would be one to watch, as well as peoples’ interest rates decisions – whether to fix longer, and if so, when.

“Supported by an improving economy, with projected GDP growth and falling unemployment, property sales are forecast to reach around 100,000, driving median property values up by an estimated 5 per cent nationally,” he said.

“However, this price growth will be contained by increased government housing supply initiatives and the growing importance of the debt-to-income ratio system, both of which will dampen any significant house price increases.”