National asking price of property has remained almost stable as new listings reaching levels not seen since 2015. Nearly 9,000 new properties hit the market in January, up 21.2% year-on-year, with Auckland at a 13-year high.
The latest data from realestate.co.nz shows that after a record low new listings for any December, sellers jumped into the market in January, with new listings reaching levels not seen during January in a decade. Stock levels were also high last month—closer to levels last seen in January 2015—while average asking prices remained relatively stable year-on-year.
Nearly 9,000 new listings came onto the market during January, a significant increase from December’s record-low new listing figures. Up 21.2% year-on-year, the data suggests sellers dove headfirst into 2025.
Year-on-year, the largest increases in new listings were in West Coast (up 100.0% to 70 listings), Otago (up 52.4% to 352 new listings), and Gisborne (up 45.7% to 51 new listings).
Sarah Wood, CEO of realestate.co.nz, said the market continues to offer strong opportunities for those wanting to buy and sell.
“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.
“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.”
Stock levels in Auckland remained high during January, up 18.9% nationally year-on-year to 32,412 properties. All 19 regions saw stock levels increase compared to January 2024. Most notably, 11,465 properties were available for sale in Auckland last month—the highest January level since 2012.
The national average asking price has hovered between $840,000 and $890,000 for two years, offering the stability buyers crave and the predictability sellers need. The start of 2025 saw this trend continue, with January’s national average asking price at $868,969, down a modest 1.3% year-on-year. The biggest increase was in West Coast, up 6.3% year-on-year to $505,151, while Coromandel saw the biggest decline, down 20.3% year-on-year to $1,004,312.
Four regions – Auckland, Hawke’s Bay, Nelson & Bays, and Southland – saw prices grow both month-on-month and year-on-year. The national average asking price, however, recorded a decline in Waikato, Coromandel, Wairapa and Wellingto over the same periods.
