Kiwis Embrace New Property Strategies In A Changing Market

The way New Zealanders buy and sell property is evolving, with younger generations increasingly open to new approaches, including digital platforms, co-ownership, and apartment living. However, despite the rise of online tools, most Kiwis still see the value of working with real estate professionals, according to a new LJ Hooker study.

The findings reveal key shifts in how New Zealanders navigate the property market, balancing affordability challenges with innovative solutions.

Key insights from the research include:

• Less than a quarter of Kiwis consider selling their home without a real estate agent, though nearly half (44%) of Gen Z would.
• Face-to-face meetings remain the preferred way to communicate with agents, despite advances in technology.
• Co-ownership is gaining traction, with 33% of New Zealanders open to buying a property with a friend or sibling—rising to 45% among Gen Z.
• 31% of homebuyers have parents open to providing them financial assistance, reflecting the challenges of saving for a deposit in the current market.

The Role of Real Estate Professionals Remains Strong

While platforms like Facebook Marketplace and online property portals have made private property sales more accessible, the majority of New Zealanders still prefer working with an agent. The research shows that only 23% of Kiwis have considered selling privately, with younger generations more open to the idea.

LJ Hooker Head of Network NZ, Campbell Dunoon, says many sellers soon realise the complexity of handling a property sale without expert guidance.

“It quickly becomes clear that selling a home is far more complex than selling an old coffee table online. With fluctuating market conditions, competing offers, and strict regulations, working with a real estate agent helps remove stress and ensures sellers get the best outcome,” Dunoon said.

Commission rates (61%), local expertise (54%), and customer service (46%) are the most important factors for Kiwis when choosing an agent.

Young Buyers Embrace Co-Ownership and Apartment Living

As standalone homes become less attainable in major cities, younger generations are rethinking their path to homeownership.

• 45% of Gen Z and 40% of Gen Y would consider co-owning a home with a friend or sibling, compared to just 22% of Baby Boomers.
• 40% of New Zealanders are open to apartment living, with younger buyers leading this trend (48% of Gen Z vs. 37% of Gen X).

“Kiwis still see property ownership as a key path to financial security, but affordability challenges mean that more people are open to alternative options like co-ownership or apartment living,” Dunoon said.

He advises those considering co-ownership to take a structured approach: “If you’re buying with a friend or family member, ensure you have a formal agreement in place outlining each party’s responsibilities and an exit strategy in case circumstances change.”

Parents Continue to Play a Key Role in Homeownership

Despite the rise of KiwiSaver, many young buyers rely on financial support from family to secure a home deposit.

• 31% of homebuyers have parents open to providing them financial assistance.
• Parental support is even more common among younger generations, as affordability challenges persist.
• 89% of parents are open to helping their children enter the property market.

“Parents who have built wealth through homeownership understand its long-term benefits,” Dunoon said.

“Many are eager to support their children in achieving the same goal, even though the path to homeownership has changed over the years.”

This survey was commissioned by LJ Hooker conducted by independent Research firm Edentify in December 2024, who surveys 1,000 participants across New Zealand.

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