It is essential to remember that property prices are falling at a slower rate, according to the Reserve Bank and REINZ data.

The market still has some way to go before prices are back to pre-pandemic levels, but as mentioned in a recent article, senior QV consultant David Cornford noted that prices rose by 19% and 25.5% in 2020 and 2021, respectively.

So, what are we currently seeing in the regions? Well, if January is anything to go by, we're bracing ourselves for what we anticipate to be another active year. We've seen enormously busy open homes throughout January and introduced 34% more property into the market this January than last year. There are plenty of people out there actively looking to buy property. 

Having been in the real estate game since 1986, we've seen and weathered a few different markets. What's as true now as it has always been is that markets surge and they sag.

With most property purchases being the result of significant moments in our lives, the focus falls on specific needs, timeframes, and budget - less on where the price cycle is at for others.

"We're still getting married, divorced, securing new jobs, and moving towns; families are growing, and families are shrinking as people move out; all those things are real factors that drive the property market. And right now, we see those factors still very much in play. It's a busy and active market," said Property Brokers' Managing Director Guy Mordaunt.

"There are going to be challenges out there. Fluctuating interest rates and inflation are real challenges at the moment. However, at the same time, house prices are still reasonably steady around places, even if they have trended downward following a huge, unsustainable peak in 2021. The relativity of that is giving people on the ground the encouragement to purchase still and sell their homes."

Echoing the sentiments of Tony Alexander, when approached by journalists asked whether it was a good time to buy a house, "There is no single answer. It all depends on your position, plans, and desires, and the same goes for house buying."