New Zealand's housing market has been embracing deeper uncertainties in the recent past, with housing activities showing rapid changes. After an almost uninterrupted thriving for almost two years despite the pandemic, the property market is now exhibiting an obvious slowdown. Buyers have been exiting the market as high prices and rising interest rates bring fresh housing affordability concerns and the fear of overpaying starts to dominate homebuyers' minds with a highly volatile economy. Sellers are also bringing fewer properties into the market as global headwinds create uncertainties. Increasing interest rates, fears of a recession kicking in, geopolitical tensions and hyperinflation partly triggered by supply-chain disruptions are some factors that are driving uncertainties in the property market. Meanwhile, resourcing issues in construction and widespread reporting of house price falls appear to be waning buyers' interest in the housing market.