2024 New Zealand property market shows signs of recovery with increased buyer inquiries, price declines, and 30% stock surge.

In August 2024, New Zealand's property market showed positive signs as buyer inquiries rose 8.5% following a cut in the official cash rate. The national average asking price fell to $844,595, the lowest in over three years, yet still up from last year. Stock levels surged 30% year-on-year, indicating increased market activity. Most regions experienced new listings, while several saw price declines, suggesting a potential market rebound as spring approaches.