How low can it go?

How low can it go? The OCR is falling like a rock – will that translate into being the fire-starter for the property market? Time will tell.
The bigger question is if it’s a soft/falling market – doesn’t that make it a great time to buy? The bottom line is it’s all about confidence – a sentiment that seems is in short supply according to the Business Confidence Survey https://tradingeconomics.com/new-zealand/business-confidence
This is no doubt the reason why the upper end of the market is a bit sticky. However there’s no doubt with interest rates as they are it is a great time to buy. Those who are prepared to buck the current sentiment will no doubt be rewarded in time. The phrase ‘should have bought back then’ comes to mind. Of interest, we note competition for property returning with several multiple offer situations in play.