Trade Me survey reveals how quickly emotional and financial decisions unfold
A new Trade Me survey has revealed that New Zealanders spend just 28 minutes on average at an open home before deciding to buy – putting the decision-making rate at nearly $30,000 per minute.
With the national average asking price sitting at $829,650 in June, Trade Me Property said many buyers are making lightning-fast judgments on the biggest financial decision of their lives.
“Purchasing property is a huge decision and likely the biggest financial one people will have to make,” said Trade Me Property customer director Gavin Lloyd (pictured).
“And yet, you could spend longer listening to The Beatles’ Hard Day’s Night album or watching an episode of Shortland Street, than some do at an open home for a place they wish to buy.”
Mortgage advisers urged to support buyer due diligence
Lloyd said the findings serve as a timely reminder for buyers – and their advisers – to encourage more careful scrutiny.
“No doubt, by the time you factor in due diligence the overall decision time increases; however, it does serve as a timely reminder for those seriously considering buying to take the time to scrutinise the purchase, get a building report, check the LIM and titles and research the neighbourhood,” he said.
“Being well-informed can not only save unforeseen costs down the line but can lead to a more confident decision.”
The reminder is especially relevant as mortgage advisers report weaker-than-usual buyer demand in the current market. According to the July 2025 mortgages.co.nz & Tony Alexander Mortgage Advisers Survey, while first-home buyer interest remains steady, owner-occupier and investor activity is notably subdued.
The survey also found that a net 13% of mortgage advisers observed banks becoming more willing to lend, but frustrations remain over processing delays. As such, advisers are in a key position to help ensure clients are not only financially prepared but also fully informed before they rush to commit.
Emotion, curiosity and rollercoaster buying journeys
The survey of more than 1,000 New Zealanders found that 59% admitted feeling an emotional attachment to a property during the buying process, and nearly one in four visited more than 20 open homes before finally purchasing.
“Finding and buying a home is as much an emotional journey as it is a financial one,” Lloyd said.
“There are many feelings tied up in the process, from the excitement of finding ‘the one’ to the stress that can come with making what is a significant investment – it can be a rollercoaster.”
Inside wardrobes, water pressure, and bathroom cabinets
Buyers are also paying close attention to what lies beneath the surface – and behind the doors.
Among the key behaviours observed:
- 72% looked inside wardrobes
- 69% opened cupboards and drawers
- 58% tested water pressure
- 39% peeked in bathroom cabinets
- 14% examined family photos and personal items on display
“More than half admitted to placing a fair to great amount of attention on cosmetic features such as the colour of walls, flooring, and other surfaces which was somewhat surprising given these features are not permanent, or easily changed to better suit a buyer's taste,” Lloyd said.
Mortgage advisers’ role in slowing the decision-making pace
With emotions high and inspections short, mortgage advisers may play a crucial role in encouraging their clients to balance emotional impressions with financial preparedness.
Trade Me’s findings highlight the importance of pre-approval, home loan education, and encouraging clients to look beyond cosmetic appeal when evaluating a property.
