Home | July 2025 Market News
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The Real Estate Institute of New Zealand (REINZ) has released its figures for July 2025, showing that sales activity has increased compared to the same time last year. Listings were lower in July 2025 than a year earlier, despite a modest month-on-month rise after a significant drop in June. The national median price increased slightly year-on-year, reflecting a slight rise amid an otherwise steady trend, with monthly movements shaped by seasonal factors.
“We’re seeing the usual seasonal patterns play out, with buyers still active in the market even as listing volumes tighten ahead of spring,” said Lizzy Ryley, REINZ Chief Executive. “The lift in sales compared to last July suggests there’s a solid level of interest despite fewer new listings coming to market.”
The median price for New Zealand increased by 1.8% year-on-year, reaching $767,250. Excluding Auckland, the median price increased by 3.9% year-on-year to $695,000. Auckland’s median price increased by 2.6% year-on-year, to $975,000.
“Compared to June 2025, the seasonally adjusted data indicates a slight increase in New Zealand’s median price. While some regions saw notable price growth, others experienced declines, highlighting a mixed housing market across the country.”
The number of properties sold across the country increased by 4.0% year-on-year, increasing from 6,074 to 6,319. When excluding Auckland, sales increased by 6.1%, from 4,166 to 4,421. Looking to the regions, eight regions recorded year-on-year increases in sales count – the highest of which was recorded in Nelson, which saw a 43.6% increase (from 55 to 79 sales).
“Seasonally adjusted sales counts at the national level show sales were slightly down. Sales growth varied widely across regions, with strong rises in areas like Northland, while some regions experienced declines, reflecting a varied sales market across the country,” continues Ryley.
Looking at new listings, New Zealand saw a 4.2% decline in listings compared to July 2024, totalling 7,737 new listings. There was also a decline in listings for New Zealand, excluding Auckland, down 5.2% to 4,925. Inventory levels across the country also recorded a decrease, down slightly by 0.4% year-on-year to 30,430 available for sale.
“While buyers remain active, local salespeople around the country say they’re not in a rush to purchase. With the median days to sell holding steady or improving slightly, it’s clear that buyers still feel they have time to assess the market,” adds Ryley.
Ryley notes that local salespeople believe most vendors are realistic and are meeting current market expectations. However, due to declining listing volumes, winter conditions and uncertainty about buyer behaviour, many prefer to wait until spring, when activity usually increases and confidence tends to lift.
Compared to July 2024
Compared to June 2025
The median price for Canterbury increased by 4.2% year-on-year to $677,600. First home buyers, owner-occupiers and investors were the most active across the region. Some vendors were realistic regarding price and happy to review offers handed to them, especially for those who were motivated to sell.
Attendance at open homes was steady, particularly for those in desirable school zones or the properties listed with an asking price. Auction rooms saw multiple bidders and good numbers in attendance. Factors such as lower interest rates, reasonable local economic activity, and increased activity across commercial and rural markets influenced market sentiment.
– Lizzy Ryley, REINZ Chief Executive
National Median Price $767,250
Median price up 1.8% compared to July 2024
National Median Days to Sell 48
The total number of properties sold in New Zealand increased by 4.0% year-on-year, to 6,319 properties sold in July 2025. New Zealand, excluding Auckland, saw sales increase by 6.1% year-on-year, to 4,421 properties sold in July 2025.
The median days to sell for New Zealand declined by one day, reaching an average of 48 days.
Information sourced from REINZ Real Estate Institute New Zealand
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