Home | February 2025 Market News
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The latest figures from the Real Estate Institute of New Zealand (REINZ) for February showed some positive signs across the New Zealand property market, with increases in sales counts and auction activity.
REINZ Acting Chief Executive Rowan Dixon says the data released today indicates growing stability in the market. As New Zealand transitions from the holiday period and returns to normal routines, the market looks optimistic.
Sales have increased nationally year-on-year, and activity is ramping up as we move out of summer. Attendance at open homes remains strong, and auction numbers are comparable to those in February 2024. These are encouraging signs for a positive and confident market ahead, Dixon comments.
Sales returned to a relatively stable level nationwide, rising 3.4% (from 6,080 to 6,287) year-on-year and increasing 59.5% (from 3,941 to 6,287) compared to January 2025. For New Zealand, excluding Auckland, sales experienced a 5.6% year-on-year rise, from 4,252 to 4,491.
“Sales in New Zealand generally rise from January to February, though the exact shift becomes clearer once seasonal trends are accounted for. For instance, New Zealand experienced a 59.5% increase in sales, but when adjusting for seasonality, that is 12% higher than anticipated,” Dixon says.
The median price for New Zealand declined by 2.4%, from $791,000 to $772,000, year-on-year. Excluding Auckland, the median price fell by only $10,000 (1.4%) from $710,000 to $700,000 compared to February 2024.
“February saw a rise in sales, but median prices lagged, with only six regions recording an increase. High number of listings can give buyers less urgency—if they miss out on one property, plenty of similar options are still available,” says Dixon.
“Reports show a positive outlook with most vendors setting realistic prices and aligning to market conditions,” Dixon concludes.
Compared to February 2024
Compared to January 2025
The median price for Canterbury increased by 0.3% year-on-year to 707,000.
“All buyer types were active across the region. Some vendors hoped to see price increases, but most were realistic about price expectations and were not far off market conditions.
Factors such as easing interest rates, heightened optimism, and increased activity have impacted market sentiment. Local salespeople cautiously anticipate in the coming months that there will be a larger pool of buyers, thanks to easing interest rates, to help move many properties for sale.”
– REINZ
National Median Price $772,000
Median price down 2.4% compared to February 2024
National Median Days to Sell 54
The total number of properties sold in New Zealand increased by 3.4% compared to February 2024, from 6,080 to 6,287. Sales increased by 59.5% month-on-month, from 3,941 to 6,287.
Nationally, seasonally adjusted figures show a sales count change of 12.0% compared to last month.
Overall, listings nationally decreased year-on-year by 3.6% from 11,788 to 11,363.
Information sourced from REINZ Real Estate Institute New Zealand
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