There has been a surge in listings
Trade Me Property has witnessed a significant upturn in residential real estate listings, reaching a five-year peak, coupled with an 11% year-on-year increase in viewer engagement nationwide for January.
This resurgence in interest contrasts sharply with the usual drop in activity during December, as New Zealanders typically shift their focus to holiday celebrations and year-end festivities.
Rebound in property views
Gavin Lloyd (pictured above), Trade Me Property’s customer director, highlighted the unusual speed of this year’s market rebound.
“In recent years, the post-holiday return to site has been much slower, taking several months to reach pre-holiday levels,” Lloyd said. “This year’s swift recovery is likely due to recent interest rate cuts and increased consumer curiosity in the market.
“While a decrease in listing views over the holiday period is typical, this rapid rebound suggests that many Kiwis may be flirting with the possibility of buying or selling in 2025 and are getting an early feel for the market.”
Regional focus: Auckland, Canterbury, and Wellington
The rebound wasn’t limited to national trends.
“Looking at our three major cities, listing views in Auckland and Canterbury were up 15% each year-on-year, and, in Wellington, property listing views were up 10%,” Lloyd said.
January’s data showed an unprecedented surge in properties hitting the market, with residential for sale property listings climbing 17% year-on-year to approximately 39,000.
Market dynamics and price fluctuations
The national average asking price in January adjusted slightly to $842,900, marking a modest 0.8% decline from December, Trade Me Property reported.
While most regions in New Zealand exhibited stable market conditions with minor price fluctuations, notable exceptions were Gisborne and Otago. Gisborne saw a significant 6.9% increase in its average asking price, while Otago experienced a 2.9% decrease.
Strong regional performances: Gisborne, West Coast, and Southland
Gisborne continued its positive trajectory with property prices rising 6.9% in February, reaching an average asking price of $648,450.
“This upward trend will be welcome news for Gizzy residents considering selling,” Lloyd said. “The increased prices suggest stronger buyer demand, benefiting both sellers and buyers.”
Similarly, the West Coast and Southland regions experienced robust growth, with the highest year-on-year increases in average asking prices among all regions.
Detailed view of major cities’ property size data
Auckland, which began 2025 with a cautious yet hopeful outlook, saw notable decreases across all property sizes, with the largest drop in five-plus bedroom homes, which fell by 10.7%.
Wellington’s market changes were more modest, with the smallest units seeing a 1.1% drop.
In contrast, Christchurch presented a mixed landscape; while larger homes saw significant price drops, smaller properties enjoyed slight increases, Trade Me Property data showed.
