Is now a good time to buy a house?

Is now a good time to buy a house?

Growing wealth through property

At Williams Corporation we truly believe in the ability of property investments to create wealth.
It is absolutely true that when you are renting your place of living; you are paying someone else’s mortgage!
Despite negative media coverage on the current state of the housing market, we want to educate on why we feel now is still an opportune time to buy a property.
Investing in a Williams Corporation property is investing in an asset that’s value will only grow with time. Our homes are built to last the test of time, in the best locations that will only go up in value.

Summer is just around the corner in New Zealand and in the warmer months of Spring our team have seen a pick up of inquiries from those wanting to buy our homes.

There has been a lot of media coverage regarding the housing market over the past few months as we face a time of escalated interest rates and high inflation. We believe that we are at the tale end of this and that come the first quarter of next year the peak will be over. 

Despite the media’s negative coverage on projections for interest rates, in the past couple of months we’ve seen a noticeable improvement in the way people are now talking about property. 

The housing market

The New Zealand housing market has cooled following a period of buoyancy. House prices have dropped from their record high all time high November 2021. 

Expertises are predicting that the market has hit “the bottom” and should stabilise from here. It is resuming to normal levels.

As a home buyer, this makes it a premium time to buy. You will be buying a property at a price that has not been artificially inflated by demand.

Home Inventory

Currently the population of New Zealand is shrinking. The borders have opened and people are taking the chance to relocate. This means home buyers have more choice in the market and as mentioned above has created a market where demand is not inflating prices.

You can utilise this opportunity to secure exactly the property that is perfect for you with less competition. 

One key advantage of this is that you can avoid completing due diligence on as many properties which can prove a costly exercise.

Home Pricing

We have seen in the major New Zealand cities a leveling off of house prices. This makes it a fantastic opportunity to enter the market or take on another investment property. Improved affordability is always an advantage to the buyer. 

Mortgage Rates

Mortgage rates should reverse after hitting a 20-year high. Interest rates are currently hitting a peak. 

Whilst this can prove intimidating for those wanting to secure a new property, there are advantages to this as outlined below.

Affordability for you

When you are crunching the numbers of your mortgage repayments and establishing whether you have deposit funds secured, you can be assured that you are doing so in a market that has escalated to the more expensive end of the scale. This can provide some confidence in that if you can afford the property with the current interest rates, then in future when we see these improve in the favour of the lender you will be financially comfortable. 


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