Home | January 2025 Market News
Trends we are noticing are:
The latest figures from the Real Estate Institute of New Zealand (REINZ) for January 2025 showed some positive signs across the New Zealand property market, tempered with the usual slowness of the holiday period.
“While the numbers predictably show January being a slower month due to the holidays, sales and listings were higher compared to January 2024, and open home volumes were strong across the country with a positive sentiment shown from buyers,” explains Chief Executive Jen Baird.
As expected during the summer holiday period, sales were up 17.5% (from 3,212 to 3,774) compared to January 2024, and were down month-on-month by 37.6% (from 6,048 to 3,774) across New Zealand compared to December 2024.
“When we adjust the sales figures for seasonality, we see that the year-on-year difference is higher than expected, reflecting a shift in buyer sentiment over the past year, from caution to more confidence,” Baird says.
The median price for New Zealand decreased slightly, down 1.7% from $763,000 to $750,000 year-on-year. Excluding Auckland, the median price increased 0.9% year-on-year, rising from $685,000 to $691,500.
“January is traditionally a slower month as New Zealand enjoys its holidays. Year-on-year January shows prices holding steady. Buyers are still enjoying the choices on offer thanks to rising listing numbers and significant levels of property for sale. First home buyers and owner-occupiers are still the largest groups at open homes, with salespeople reporting investor interest in pockets of the country,” added Baird.
National inventory levels increased by 18.9% year-on-year and also increased by 10.0% compared to December.
“All regions are seeing an increase in stock numbers with Gisborne, Marlborough and Otago leading the way,” adds Baird. “With vendors being realistic in their price expectations and meeting the market, there is a positive sentiment out there amongst agents. Steady and improving is the feedback, with the next few months looking busier with a strong pipeline of property coming to market.”
Compared to January 2024
Compared to December 2024
The current median Days to Sell of 51 days is more than the 10-year average for January which is 44 days.
The median price for Canterbury increased by 4.5% year-on-year to $675,000.
“Owner-occupiers and first-home buyers were the most active groups, with investors also active in Christchurch’s tertiary area due to an increase in university students.
Some vendors are holding firm on their price expectations and are optimistic about the market improving, while others are willing to adjust to meet the market.
Open home attendance and auction activity varied, with some areas seeing good numbers of attendees. Interest rates, high numbers of listings, and steady prices are influencing market sentiment, which is positive.”
– Jen Baird, REINZ CEO
National Median Price $750,000
Median price down 1.7% compared to January 2024
National Median Days to Sell 54
The total number of properties sold in New Zealand increased by 17.5% compared to January 2024, from 3,212 to 3,774. Sales decreased by 37.6% month-on-month, from 6,048 to 3,774.
Year-on-year, national median days to sell rose by six to 54 days; excluding Auckland, it increased by five to 54 days.
Overall, listings nationally increased year-on-year by 21.2% from 7,347 to 8,904. New Zealand (excluding Auckland) increased by 21.9% from 4,886 to 5,956 compared to January 2024.
Information sourced from REINZ Real Estate Institute New Zealand
Δ
