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NZ Property Market Update: Prices Up in Most Regions Despite Slower Sales

 

New REINZ data shows that while national sales activity has slowed, property prices continue to rise across much of New Zealand. The national median price dipped slightly by 0.5% to $761,000, but 13 of 16 regions recorded annual price growth. Notably:

  • Gisborne: +11.3% to $690,000

  • Southland: +8.9% to $465,000

  • West Coast: +7.8% to $385,000

  • Auckland: +1.3% to $964,000

 

Sales volumes fell 3.7% year-on-year, but listing activity increased, with new listings up 9% nationwide. Properties are taking an average of 48 days to sell, slightly quicker than last year.

“While buyer confidence is cautious, many regions are seeing steady price growth as we head into spring,” says REINZ CEO Lizzy Ryley.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Canterbury market overview

 

Compared to August 2024

  • Median Price up 4.0%
  • Sales Count up 4.9%
  • Days to Sell increased by 1

Compared to July 2025

  • Median Price up 1.8%
  • Sales Count down 12.1%
  • Days to Sell increased by 1

 

Canterbury Market Snapshot: Steady Growth, Cautious Optimism

Canterbury’s median house price rose 4.0% year-on-year to $689,000, with first-home buyers driving most of the activity. Investor interest was softer, and open home attendance remained steady but varied by price range.

  • Auction activity: Up, with improved clearance rates

  • Vendor expectations: Generally realistic, especially for those transacting within the same market

  • Buyer sentiment: Influenced by high stock levels, cost-of-living pressures, and lower interest rates

“Local agents are cautiously optimistic, but if activity doesn’t lift soon, the market could flatten,” says REINZ CEO Lizzy Ryley.

 

 

*Information sourced from REINZ
Real Estate Institute New Zealand 

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