NZ lifestyle property market shows resilient yearly growth
February data from the Real Estate Institute of New Zealand (REINZ) highlighted the persistent strength of the lifestyle property market, as people continue to seek a quieter, more meaningful lifestyle away from urban hustle.
Despite a slight monthly dip, the market has seen substantial year-on-year growth.
Slight dip in lifestyle property sales amid strong yearly growth
In the three months ending February, lifestyle property transactions slightly decreased by 0.9% from the previous month, totaling 1,387 sales.
This figure represents an 18.3% increase from the 1,172 properties sold in February 2024, although slightly fewer than the 1,399 properties sold in January 2025.
Over the past year, there were 6,181 properties sold, marking a 12.4% increase, culminating in sales valued at approximately $6.96 billion.
Varied price trends in NZ lifestyle properties
The median sale price for lifestyle properties in February 2025 was $957,500, which is up $24,500 (2.6%) from February 2024.
Distinctly, Bare Land lifestyle properties saw a median price decrease to $425,000, down by $15,000 (-3.4%).
Conversely, Farmlet Lifestyle properties experienced a price increase, with the median hitting $1,100,000, up $40,000 (3.8%), REINZ data showed.
Regional variations in NZ lifestyle property sales and prices
Significant regional variations were observed: Auckland and Waikato led with increases in sales, whereas Nelson/Marlborough and Gisborne/Hawke’s Bay experienced the most significant declines.
Eight regions recorded rising median prices for lifestyle blocks over the year, with the West Coast witnessing the most substantial increase (+57.3%).
However, Southland and Nelson/Marlborough/Tasman saw notable price drops.
Robust market trends despite slower sales
The REINZ rural spokesperson noted that despite this month’s slight dip in sales, the yearly data revealed a strong lifestyle property market, with a 12% increase in transactions and a total market value nearing $7 billion.
The duration to sell lifestyle properties has increased overall, averaging 79 days, with the quickest sales occurring in Southland and the slowest in Northland.
Future expectations
As New Zealand moves further into 2025, the lifestyle property market is expected to maintain its vitality, driven by regional diversities and evolving consumer preferences in property investments.
Supporting this outlook, the Bayleys Rural Insight report revealed that the market is gradually recovering, fuelled by strong migration and persistent housing supply constraints. These dynamics are anticipated to drive price increases in the upcoming years.
Click here for REINZ’s lifestyle press release.
