Don't expect any drastic changes to the property market at the start of next year

Last month, the median house price in New Zealand was 749-thousand dollars.

QV general manager David Nagel says the property market is in for a hectic summer, with a shortage of listings, and record low interest rates.

He says the first couple of months of 2021 are likely to be the same as this year.

Nagel believes high demand will increase through to March, when LVR restrictions take effect.

He says the re-introduction of LVR restrictions should give first home buyers an opportunity to get on to the property ladder.