Home | March 2025 Market News
Trends we are noticing are:
The Real Estate Institute of New Zealand (REINZ) has released March figures, revealing promising trends in the national property market. Continuing the momentum from last month, year-on-year sales are rising across the country.
“As we transition into the cooler months, the market remains vibrant rather than stagnant. There have been reports of increased attendance at open homes and auctions. Even in cases where properties don’t sell at auction, there’s plenty of post-auction interest, indicating a resilient and engaged buyer community,” says Acting Chief Executive Rowan Dixon.
National sales counts have increased compared to March 2024, rising 12.8% (from 6,774 to 7,640). This suggests a positive shift in the property market, likely influenced by the combination of lowering interest rates and still relatively low house prices. For New Zealand, excluding Auckland, sales saw a 14.2% year-on-year rise, from 4,622 to 5,278.
“This growth suggests that lowering interest rates and low house prices encourage more people to buy homes. Additionally, the strong performance in New Zealand (excluding Auckland) with a 14.2% year-on-year rise, highlights that regions outside Auckland are also experiencing significant demand,” says Dixon.
The median price for New Zealand declined by 1.4% to $790,000 year-on-year. Excluding Auckland, the median price fell by 2.1% from $715,000 to $700,000 compared to March 2024.
“March saw a year-on-year increase in sales, but median prices continue to lag behind. New Zealand’s property market remains the same: high listings result in decreased buyer urgency. If a buyer misses out on a property, they can easily find a similar one for sale,” says Dixon.
More properties hit the market than in March 2024, with an increase of 5.0% nationally, from 11,455 to 12,029 listings. Excluding Auckland, listings increased by only 2.6%, from 7,326 to 7,513, compared to last year. National inventory levels increased by 10.9% year-on-year to 36,870 and 3.2% compared to the previous month.
“As interest rates continue to fall and the OCR drops once again, local salespeople around the country are anticipating stability in the market over the coming months, bringing renewed energy and hope for many navigating these changing economic tides,” Dixon concludes.
Compared to March 2024
Compared to February 2025
The median price for Canterbury had no change year-on-year, staying at $695,000.
First-home buyers and owner-occupiers were the most active, with the Ashburton region reporting an increase in investor activity, while Timaru local agents reported fewer local investors.
Most vendors were realistic regarding the asking price. Attendance at open homes was steady, with many reporting good numbers and new listings on the market.
Market sentiment was influenced by interest rate reductions, increased confidence, job uncertainty, as well as the growing number of individuals looking to purchase.
Local agents predict that the market will remain stable as more listings enter the market and more potential buyers are looking to transact.
– REINZ
National Median Price $790,000
Median price down 1.4% compared to March 2024
National Median Days to Sell 41
The total number of properties sold in New Zealand increased by 12.8% compared to March 2024, from 6,774 to 7,640. New Zealand (excluding Auckland) increased by 14.2% year-on-year, from 4,622 to 5,278.
Overall, yearly listings increased by 5.0% from 11,455 to 12,029. New Zealand (excluding Auckland) increased by 2.6% from 7,326 to 7,513 compared to March 2024.
Information sourced from REINZ Real Estate Institute New Zealand
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