realestate.co.nz reports record-breaking new listings
January marked a significant upturn in New Zealand’s property market, with new listings hitting the highest January levels since 2015.
This surge in listings follows a December that saw historically low numbers, according to the latest data from realestate.co.nz.
This influx has brought national stock levels up by 18.9% year-on-year, reminiscent of the figures last seen eight years ago.
Auckland experiences a significant increase
Auckland, in particular, noted a remarkable increase in property availability, with stock levels reaching a 13-year high for January. The region’s stock levels rose to 11,465 properties available on the market, the highest since 2012.
Sarah Wood (pictured above), CEO of realestate.co.nz, commented on the trend.
“We haven't seen this level of housing stock in Auckland for more than a decade,” Wood said. “There could be a window of opportunity for those looking for property in the region.”
Stable asking prices amidst high inventory
Despite the high levels of stock, average asking prices across New Zealand have remained relatively stable, with the national average asking price in January 2025 settling at $868,969, a slight decrease of 1.3% from the previous year.
This stability provides predictability for sellers and reliability for buyers in the market.
However, regional variations exist, with the West Coast experiencing a 6.3% increase in asking prices, while Coromandel saw a significant decline of 20.3%.
Market outlook for 2025
As the New Zealand market enters 2025 with declining interest rates and high property availability, Wood said that conditions are ripe for both buyers and sellers.
“Lots of choice, combined with relative price stability, offers certainty for both buyers and sellers,” she said. “And as interest rates decline, the market may become more appealing for those on the sidelines.”
Wood also hinted at the cyclic nature of the market, indicating that while the current situation shows high stock levels, a shift is inevitable as the market continues to evolve.
Regional highlights and predictions
The surge in listings wasn’t uniformly distributed, with significant increases in regions like West Coast, Otago, and Gisborne, realestate.co.nz reported.
This diverse geographic distribution suggests a broad-based recovery and renewed interest in the market across the country.
“When things will change is anyone’s guess,” Wood said. “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.”
