NZ housing trends: Increased listings and stable prices
As 2025 unfolds, the New Zealand housing market remains cautious, though new data from realestate.co.nz indicates a gradual shift towards recovery.
While many Kiwis are hopeful for a prosperous year, the property sector is navigating its path carefully, with signs of a slow but steady adjustment in market dynamics.
March report: Stability and rising confidence
March’s New Zealand Property Report revealed that average asking prices have modestly decreased across most regions, maintaining a national average below $900,000 for over two years, signaling prolonged price stability.
This trend is corroborated by recent CoreLogic data, which also indicated a suburb-level recovery in the NZ housing market as property values stabilise.
Furthermore, realestate.co.nz data showed that the total property listings reached a decade high at 36,870 in March, reflecting a 10.9% increase from the previous year, suggesting growing seller confidence.
Properties are also selling slightly faster, indicating a mild increase in market activity compared to February.
Cautious optimism despite increased listings
Despite an upturn in listings and stock, buyer activity remains prudent.
Vanessa Williams (pictured), spokesperson for realestate.co.nz, commented on the market’s temperance.
“This isn’t a runaway market,” Williams said. “But there are signs of quiet momentum as 2025 progresses.”
The market’s cautious optimism is mirrored by incremental sales volume increases, as evidenced by REINZ data, which reported a 3.4% rise in properties sold nationally in February compared to the same month last year.
Further suggesting a trend towards market stabilisation, Trade Me’s latest survey revealed a surge in buyer confidence.
Price dips and rising listings
While the national average asking price experienced a slight monthly increase of 0.8%, it was still down 2.6% year-over-year. Only Nelson & Bays saw a year-on-year increase in average asking prices during March.
In terms of inventory, every region except Northland saw an increase in the number of properties for sale, indicating that more homeowners are willing to sell compared to last year, realestate.co.nz reported.
Market recovery and future expectations
“Despite signs of growing economic confidence, it’s yet to translate into upward price pressure, and with the stock levels the way they are, we don’t anticipate this changing in the short term,” WIlliams said.
