|
|
This email was sent by Stats NZ, 8 Willis Street, Wellington, CBD 6011, New Zealand to nz@enz.mil-osi.com
|
The Real Estate Authority’s (REA) 2025 Consumer and Public Perceptions Research, released today, found overall 86% of consumers (property buyers and sellers) have confidence in New Zealand’s real estate industry, but have less confidence in their own knowledge of the transaction process.
Perceptions of the real estate industry overall are positive
Consumer confidence in the real estate industry remains high at 86%.
83% have confidence the industry is well regulated
30% of consumers said they would recommend the licensed real estate professional (licensee) they dealt with to others, up from 25% in 2024.
REA Chief Executive/Registrar Belinda Moffat says it is good to see consumers have confidence in the real estate industry despite challenging market conditions.
“As the government conduct regulator of the real estate profession, we want to see people confidently engage in fair transactions with trusted real estate professionals. The high levels of consumer confidence in the industry reflects the hard work by many agencies and licensees to maintain high standards of conduct in a challenging market.”
However, while the research found that 43% of property buyers and sellers had some knowledge of the end-to-end real estate transaction process, only 46% felt they were knowledgeable or had a lot of knowledge of the process.
Consumer guidance produced by REA, and being kept well informed by the real estate agent were key contributors to real estate buyers and sellers feeling confident and empowered.
The research indicated that 95% of buyers obtained some information before making an offer, and 71% of consumers considered environmental risks when buying or selling. However, fewer consumers are undertaking thorough due diligence of a property before making a purchasing decision than last year. Only 44% obtained a building inspection report, only 37% obtained a LIM, and only 34% obtained the record of title and/or council file. 59% of buyers engaged a lawyer before making an offer.
Katie Solomon, REA’s Head of Engagement, Insights and Education says buying and selling property is a complex process and it is important for consumers to have good information about the process and what they need to do during a transaction.
“Knowledge of the process, including understanding methods of sale and how to check a property for risks and issues is key to consumers making confident transaction decisions. We strongly encourage all buyers to undertake careful due diligence on the property before they buy, and to engage the services of a lawyer early.
The research shows that the complexity of the process, the real estate agent’s manner or lack of support are the main factors behind consumer sentiment.
At REA we provide a wide range of free consumer information through our consumer website Settled.govt.nz and guides in many languges and formats on the buying and selling process. The research indicates the value in these consumer resources.”
Consumers trust REA’s information resources
94% of consumers who interacted with Settled.govt.nz felt more confident about participating in the real estate transaction after visiting this website.
96% of buyers who received the REA Residential Property Agency Agreement Guide found it useful.
94% of consumers finding the REA Residential Property Sale & Purchase Agreement Guide useful.
62% of consumers who interacted with both REA and REA’s consumer website, Settled.govt.nz, rate their knowledge of the end-to-end process highly, well above the 46% overall consumer average.
The Real Estate Agents Act requires licensees to provide consumers with REA’s statutory guides to the residential agency agreement and sale and purchase agreement before they sign either contract.
The research also highlighted the key role real estate licensees play in providing information to consumers about the process.
Licensees explaining the transaction process helps consumers feel empowered
Finding the process complicated or confusing was the most common reason cited by consumers for feeling unempowered and unable to participate effectively in a real estate transaction (20%)
Licensees are the most commonly reported source for consumers to seek information about the process (56%)
Good explanations from the licensee was the most common reason for consumers feeling very empowered during a transaction (22%)
Ms Moffat says REA supports real estate licensees to explain the complexities of the transaction process to clients and customers through guidance and education.
“The principles of client and customer care underpinning the Code of Conduct for licensees that REA oversees requires licensees to exercise skill, care and diligence, and to treat all parties fairly. This includes disclosing known defects, encouraging parties to obtain legal and professional advice, and communicating in a timely way. Our guidance and education programme is focused on these core responsibilities.
The research illustrates the importance of licensees fulfilling their conduct obligations, and consumer knowledge being critical to fair real estate transactions.”
About REA
The Real Estate Authority (REA) is the independent government agency that regulates the conduct of licensed real estate professionals in New Zealand. We license people and companies working in real estate, provide oversight of the code of conduct (external link), oversee the complaints and disciplinary process for poor conduct by licensees, provide education and guidance to licensees to assist them to meet their regulatory obligations, and provide information to consumers about the real estate transaction process. REA is governed by a Board. The Chair is Denese Bates KC. REA Chief Executive is Belinda Moffat.
About the research
The latest Annual Perceptions Research was conducted by NielsenIQ on behalf of the Real Estate Authority. The survey was carried out in two parts. Part one was in field between 14 May and 2 June 2025 and had 729 respondents. Part one of the survey consisted of people who bought, sold, put an offer or received an offer on a property in the last 12 months using a licensed real estate professional (referred to as ‘consumers’). Part two surveyed 700 people of the New Zealand general public. The fieldwork for part two of the survey took place between 20 and 29 May 2025. All REA claims are based on research conducted by NielsenIQ reported to us on 22 July 2025.
Importance of Due Diligence
In a media release issued on Monday 6 October, REA highlighted the importance of buyers undertaking due diligence and the need for more buyers to undertake more comprehensive due diligence before making an offer.
FURTHER INFORMATION: Soil & Health's submission on the Gene Technology Bill: https://soilandhealth.org.nz/civicrm/mailing/url/?u=1203&qid=77017
The New Zealand Defence Force’s work on the island of Ma’uke in the Cook Islands will have a long-lasting impact on the island, as Exercise Tropic Twilight wraps up following a month of work.
Funded by the Ministry of Foreign Affairs and Trade, this year’s exercise involves more than 30 personnel from the New Zealand Army’s 25 Engineer Support Squadron, 2 Engineer Regiment supported by a medical team and troops from Australia, Fiji, Tonga and Vanuatu.
“It’s a positive feeling as we’ve accomplished all the tasks we set out to do and more,” said Troop Commander Lieutenant Jarrod Wilson ahead of the final flight out of Ma’uke on Monday.
Nineteen tonnes of stores were flown in by Royal New Zealand Air Force C-130J Hercules, with a further 25 tonnes of building supplies shipped to the island.
The team carried out its main tasks of maintenance and improvements on the island’s solar farm, water infrastructure, and school and community halls during the exercise. Ma’uke, about 277km northeast of Rarotonga, has a population of only about 240 and some of that infrastructure needed work.
“We were able to finish these quicker than expected, mainly due to the skill of the people we have here and , that really meant we could get after some extra tasks,” Lieutenant Wilson said.
That included work at the island’s hospital, installing a new solar hot water heater and assembling hospital beds and furniture.
An additional air conditioner was also installed at the solar farm, where overheating battery and inverter rooms were affecting the power supply to the island.
The electricians and plumbers also replaced faulty bore pumps and float switches at the island’s water farm. This will ensure the island has a reliable water supply into the future.
“The work we’ve done on the solar farm and water bores will definitely have an impact on this island over a long time,” Lieutenant Wilson said.
“While it might seem insignificant at this time, it’s the long-term effects, such as protecting the life of the batteries and not wasting water, that will be felt in the longer run.”
The soldiers had also learnt a lot during the exercise as they worked alongside the local experts, he said.
“We didn’t build the water bore system and we didn’t have an understanding of how it operated.
“Our tradespeople had to learn how the system worked, and that meant a lot of time with one person at a pump and another at the switchboard trying to figure out what was happening.”
Working with the soldiers from Australia, Fiji, Tonga and Vanuatu had also proved valuable.
“They learned a little bit about how our Defence Force operates and we learned a little bit about them.
“In the future if we ever have to deploy operationally, we have a baseline understanding. Our section commanders had to learn how to lead personnel from different countries – they sometimes have to overcome a language barrier or sometimes a different skill set, which is great for them as well.”
Handover and completion ceremonies were held last week, where locals were shown the completed work.
Lieutenant Wilson believed the community was happy with the work, and the hospitality shown by the island was incredible.
“It’s like we were born and raised here, and went away and came back. There’s definitely good relationships that have been formed in such a short time between our personnel and the locals.
“This is one of the good parts of doing our job – practising our skills outside of New Zealand but also seeing the gratitude and the lasting impact this has on the community.”
He was also struck by the impact the soldiers had outside of the tasks they had been set.
“The guys were going and playing volleyball with the community after work or us doing a sports morning at the local school. This probably has just as much a positive effect on the children as constructing their walkways.
“It’s been an honour and privilege to do this work not just for Ma’uke, but with Ma’uke.”
Covering period of Monday 13th – Friday 17th October –
Over the weekend, we had some warm, muggy nights and wild winds. Wellington felt it big time with gusts up to 137 km/h on Sunday morning – the strongest of the year so far.
The rain hasn’t left either. On Monday, rain and showers are soaking eastern areas, and heavier downpours are expected in central western parts of the North Island as well as the Main Divide in the South Island.
Tongariro National Park is under a Heavy Rain Warning from Monday afternoon until Tuesday morning, while the eastern ranges of Bay of Plenty are covered on Tuesday until late afternoon.
Meanwhile, northern Taranaki, Waitomo, northern Taihape, Taupō, Taumarunui, Tararua Range and the headwaters of Canterbury lakes and rivers about and north of the Rangitata River to Arthurs Pass, are all under a Heavy Rain Watch on Monday and Tuesday.
Rain sticks around on Tuesday too, but things start to settle a bit in the South Island, where rain pulls back to just the eastern areas by morning.
On Wednesday, we get a bit of a break – clear skies for most. But don't get too comfy – a new rain bearing front moves into the lower South Island during the day and slowly works its way north. However, the east should hang on to some sunshine with only a few high clouds – which should be welcomed news from those in Canterbury Plains and all the way to Gisborne.
Those looking forward to a clearance in the weather will be pleased to know that by Thursday, the wet weather in the west clears up as a ridge of high-pressure moves in – bringing calmer, sunnier skies and lighter winds.
Thursday and Friday are looking like the best days of the week to get outside and enjoy some spring sunshine. MetService meteorologist Oscar Shiviti says, “It's the best chance to make the most of the good weather – especially in the east – before more rain rolls in over the weekend.”
The ridge of high pressure and settled weather hang on into Friday, but another rain baring front is waiting in the wings, heading into lower South Island and creeping north through the weekend.
If you're in Christchurch and heading to the T20 cricket game between the Black Caps and England on Saturday evening – you're in luck! The forecast looks mostly fine with just a few clouds, and a warm evening after a daytime maximum of 21°C .
Stay up to date with the latest forecasts and warnings at metservice.com.