UK and NZ Housing Markets Experience Notable Changes

The real estate markets in both New Zealand and the UK are experiencing notable changes. In New Zealand, January saw fewer than 4,000 homes sold, a typical holiday slowdown, but activity is expected to increase with positive sentiment among buyers and sellers, particularly first-home buyers. Meanwhile, UK house prices stabilized in February with modest gains in Scotland and London, but the impending end of stamp duty tax breaks in April is causing some market uncertainty. Experts suggest the UK housing market may not face a significant downturn post-April, as further interest rate cuts are anticipated, potentially lowering borrowing costs. Despite slower growth in asking prices, market activity remains positive with increased buyer demand and new property listings.