A portion of this can be attributed to the government’s recent planned property policy changes particularly impacting residential investment. The policy changes are most likely to reignite investors plans, with the first change set for April 1.

This month we opened our renovated and updated auction rooms and support facilities including our onsite café. The upgrade to our Deans Avenue office enables us to provide improved business facilities and meeting spaces for both our clients and buyers.

Bayleys auctions have built momentum since the start of the year, with our clearance rates under the hammer around 53% for February. In addition, during this period, 65% of our clients have received a bid or offer on their property. Auction activity in our rooms remains spirited including our buyer attendance and vendors who are keen to progress a sale on the day.

This year Bayleys is proudly celebrating 25 years of our rural, Country, and Commercial, Total Property, portfolios across New Zealand.

We are proud to present the Bayleys Country magazine and portfolio with a selection of rural and lifestyle properties across New Zealand. Bayleys is the most awarded rural real estate brand in the county, and 2024 is a big milestone for us as we celebrate 25 years of our respected Country portfolio and of having a dedicated rural sales team.

First launched in 1999, Total Property, has become indelibly associated with the sale of commercial and industrial property. Total Property remains a pivotal component of our service offering to commercial and industrial vendors. In its 25 years of publication, over 11,000 properties have been featured.

With the Reserve Bank of New Zealand (RBNZ) holding the Official Cash Rate (OCR) steady at 5.5 percent last month, it is clear that inflation is now very much under control – with the consequence that mortgage interest rates are now stable, with a few of the high street banks trimming some of their short-term lending rates in an attempt to lure in borrowers sitting on the fence pondering whether or not to buy their next property asset.

During February we saw more momentum with listing activity across Canterbury up from last year, providing buyers more choice across a range of suburbs and price points. There is growing interest from buyers outside the region, solidifying the positive outlook for the growth of Christchurch as a modern city.

The lifestyle market has stabilised over the past 12 months and is expected to be active and stronger with several factors driving this. As main centres intensify residentially people are seeking opportunities beyond city fringes to give their families a quieter way of life with the benefits of space and nature.

With all of this as the basis for maintaining momentum in the property markets, should your browsing through this edition of Selection magazine uncover a fabulous property of interest or appeal, feel free to contact the Bayleys salesperson marketing the property for a chat on how we can assist in achieving your real estate dreams. We look forward to talking with you.