The New Zealand real estate market has kicked off 2025 with a bang, as sellers flood the market with new listings at levels not seen since 2015. According to the latest data from realestate.co.nz, January saw 8,904 new listings nationwide, a 21.2% increase compared to last year. This activity surge, with stable prices and declining interest rates, has created what many call “the perfect market” for buyers and sellers.
National stock levels reached 32,412 properties in January, an 18.9% increase year-on-year. This marks the highest level of housing stock since 2015, providing buyers with a wealth of options across the country.
Auckland, in particular, saw a significant boost, with 11,465 properties available for sale—the highest January stock level since 2012. Sarah Wood, CEO of realestate.co.nz, highlighted the opportunity this presents:
“We haven’t seen this level of housing stock in Auckland for more than a decade. There could be a window of opportunity for those looking for property in the region.”
Other regions also experienced notable increases in stock levels, with the West Coast leading the way at a 100% year-on-year increase, followed by Otago (up 52.4%) and Gisborne (up 45.7%).
The national average asking price in January was $868,969, down just 1.3% year-on-year but up 2.9% compared to December 2024. This stability in pricing has been a hallmark of the market for the past two years, with average asking prices consistently hovering between $840,000 and $890,000.
Sarah Wood emphasized the benefits of this stability:
“Lots of choice, combined with relative price stability, offers certainty for both buyers and sellers. And as interest rates decline, the market may become more appealing for those on the sidelines.”
Regional variations in pricing were evident, with the West Coast seeing the largest year-on-year increase at 6.3%, while the Coromandel experienced the biggest decline at 20.3%. Four regions—Auckland, Hawke’s Bay, Nelson & Bays, and Southland—recorded price growth both month-on-month and year-on-year, signalling strong demand in these areas.
While the current market offers stability and choice, the question on everyone’s mind is: When will it change? Sarah Wood noted that while the market is cyclical, the high stock levels mean a frantic rebound is unlikely in the near term.
“When things will change is anyone’s guess. And right now, we still have high stock levels to cycle through, so it is unlikely that we will see a frantic rebound. But the market is cyclical, and eventually, we will see a shift.”
For now, the combination of high stock levels, stable prices, and declining interest rates creates a prime opportunity for buyers and sellers alike. Whether you’re looking to purchase your dream home or sell a property, the current market conditions provide a rare balance of certainty and choice.
As 2025 unfolds, the New Zealand real estate market remains a dynamic and evolving landscape. With high stock levels, stable prices, and easing interest rates, the market is poised to offer strong opportunities for both buyers and sellers.
For those considering entering the market, now may be the ideal time to take advantage of these favourable conditions. As Sarah Wood aptly put it:
“With interest rates easing and plenty of properties to choose from, the strong start to 2025 creates prime opportunity for those ready to make their move.”
Ready to dive into New Zealand’s real estate market? Visit realestate.co.nz to explore the latest listings, market insights, and property valuations. Whether you’re buying or selling, the tools and data you need are just a click away.
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