Source: RealEstate.co.nz
- New listings back at levels not seen during January since 2015
- National stock levels up 18.9% year-on-year, close to 2015 levels
- Auckland stock levels reach 13-year January high
Coined ‘the perfect market’ by realestate.co.nz in November, the rare stability of high stock levels and stable prices has carried over to 2025. But with confidence on the rise and interest rates declining, the question everyone’s asking is, when will the market change?
The latest data from realestate.co.nz shows that after a record low new listings for any December, sellers jumped into the market in January, with new listings reaching levels not seen during January since 2015. Stock levels were also high last month—closer to levels last seen in January 2015—while average asking prices remained relatively stable year-on-year.
Sarah Wood, CEO of realestate.co.nz, said the market continues to offer strong opportunities for those wanting to buy and sell:
“Lots of choice, combined with relative price stability, offers certainty for both buyers and sellers. And as interest rates decline, the market may become more appealing for those on the sidelines.”
“When things will change is anyone’s guess. And right now, we still have high stock levels to cycle through, so it is unlikely that we will see a frantic rebound. But the market is cyclical, and eventually, we will see a shift.”
New listings return to levels not seen during January since 2015
Nearly 9,000 new listings came onto the market during January, a significant increase from December’s record-low new listing figures. Up 21.2% year-on-year, the data suggests sellers dove headfirst into 2025.
Wood said that although it is typical to see more properties come to market in January, this year’s numbers are particularly noteworthy:
“The country seems to take a collective holiday during January, and over the past few years, sellers have appeared to do the same. This is the first time new listings have been around 9,000 in the month of January since 2015.”
Year-on-year, the largest increases in new listings were in West Coast (up 100.0% to 70 listings), Otago (up 52.4% to 352 new listings), and Gisborne (up 45.7% to 51 new listings).
Auckland hits 13-year stock high
Stock levels remained high during January, up 18.9% nationally year-on-year to 32,412 properties. All 19 regions saw stock levels increase compared to January 2024. Most notably, 11,465 properties were available for sale in Auckland last month—the highest January level since 2012.
“We haven’t seen this level of housing stock in Auckland for more than a decade,” said Wood. “There could be a window of opportunity for those looking for property in the region.”
Average asking prices hold steady as 2025 begins
The national average asking price has hovered between $840,000 and $890,000 for two years, offering the stability buyers crave and the predictability sellers need. The start of 2025 saw this trend continue, with January’s national average asking price at $868,969, down a modest 1.3% year-on-year. The biggest increase was in West Coast, up 6.3% year-on-year to $505,151, while Coromandel saw the biggest decline, down 20.3% year-on-year to $1,004,312.
Four regions – Auckland, Hawke’s Bay, Nelson & Bays, and Southland – saw prices grow both month-on-month and year-on-year, while Coromandel, Waikato, Wairarapa, and Wellington recorded declines over the same periods.
“With interest rates easing and plenty of properties to choose from, the strong start to 2025 creates prime opportunity for those ready to make their move,” concluded Wood.
About realestate.co.nz
We’ve been helping people buy, sell, or rent property since 1996. Established before Google, realestate.co.nz is New Zealand’s longest-standing property website and the official website of the real estate industry.
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Glossary of terms:
Average asking price (AAP) is neither a valuation nor the sale price. It is an indication of current market sentiment. Statistically, asking prices tend to correlate closely with the sales prices recorded in future months when those properties are sold. As it looks at different data, average asking prices may differ from recorded sales data released simultaneously.
New listings are a record of all the new residential dwellings listed for sale on realestate.co.nz for the relevant calendar month. The site reflects 97% of all properties listed through licensed real estate agents and major developers in New Zealand. This description gives a representative view of the New Zealand property market.
Stock is the total number of residential dwellings that are for sale on realestate.co.nz on the penultimate day of the month.
Rate of sale is a measure of how long it would take, theoretically, to sell the current stock at current average rates of sale if no new properties were to be listed for sale. It provides a measure of the rate of turnover in the market.
Seasonal adjustment is a method realestate.co.nz uses to represent better the core underlying trend of the property market in New Zealand. This is done using methodology from the New Zealand Institute of Economic Research.
Truncated mean is the method realestate.co.nz uses to supply statistically relevant asking prices. The top and bottom 10% of listings in each area are removed before the average is calculated to prevent exceptional listings from providing false impressions.