Home | June 2025 Market News
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The Real Estate Institute of New Zealand (REINZ) published figures for June, which showed a relatively stable market. Although there had been increases in the number of sales compared to June 2024, the median price for New Zealand remained unchanged, and listings across the country also declined.
The median price for New Zealand was steady year-on-year at $770,000. Excluding Auckland, the median price increased by 1.7% year-on-year to reach $691,500. Auckland experienced a further decline year-on-year, decreasing by 3.4% to $990,000.
“We’re seeing a market that is steady on the surface but with some movement underneath at a regional level. The unchanged national median price suggests stability, yet this reflects contrasting regional dynamics, with some areas experiencing renewed growth year-on-year,” REINZ Chief Executive Lizzy Ryley says.
The number of properties sold across the country increased by 20.3% year-on-year, increasing from 4,877 to 5,865. When excluding Auckland, sales increased by 21.4%, from 3,371 to 4,091.
“June is typically a quieter month for real estate, and while the seasonal slowdown was expected, sales came in slightly below typical early winter levels. Nationally, seasonally adjusted sales fell by around five per cent, suggesting some caution in the market, but compared to this time last year, sales remain significantly stronger overall,” says Ryley.
Looking at properties coming to market, New Zealand saw a 2.5% decline in listings compared to June 2024, totalling 7,612 listings. Excluding Auckland, there was also a decrease in listings, down 3.3% to 4,700. Inventory levels across the country, however, continue to rise, increasing by 2.0% year-on-year to 32,384 properties available for sale.
“While properties are still selling, the increase in median days to sell indicates that buyers are taking a more considered approach. This shift probably reflects a broader sense of caution, with many buyers feeling they have the time to explore their options, especially with the amount of choice they have,” adds Ryley.
“Most vendors are entering the market with realistic price expectations and a willingness to adapt to current conditions, especially those motivated to sell. However, many are receiving offers below their anticipated value, prompting some to delay listing, or relisting, until spring or summer, when market activity may show signs of improvement.”
Compared to June 2024
Compared to May 2025
The median price for Canterbury decreased by 2.2% year-on-year to $675,000. First home buyers and owner-occupiers were the most active buyers, with fewer investor enquiries reported and fewer purchases from that buyer type. Most vendors were realistic and willing to meet market expectations; however, vendors at the higher end of the market tended to hold firm on their original price expectations. Attendance at open homes was dependent on the weather, but overall, it was steady across the board.
Factors like vendors’ reluctance to sell in winter, lower stock levels, and a lack of buyer urgency despite lower interest rates influenced market sentiment. Local salespeople are cautiously optimistic that spring will bring more activity, as there will be the usual winter slump for the next couple of months.
– Lizzy Ryley, REINZ Chief Executive
National Median Price $770,000
Median price remained the same compared to June 2024
National Median Days to Sell 50
The total number of properties sold in New Zealand increased by 20.3% year-on-year, to 5,865 properties sold in June 2025. New Zealand, excluding Auckland, saw sales increase by 21.4% year-on-year, to 4,091 properties sold in June 2025.
Nationally, the seasonally adjusted figures for New Zealand show a sales count year-on-year increase of 14.8%. Compared to last month, the seasonally adjusted count shows a 4.9% decline.
The median days to sell for New Zealand increased by three days, reaching an average of 50 days. For New Zealand, excluding Auckland, the median days to sell increased by four days, to 50.
Information sourced from REINZ Real Estate Institute New Zealand
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