Supplied by realestate.co.nz
The latest data from realestate.co.nz shows steady momentum in the commercial property market, despite broader economic headwinds.
Nationally, the average asking price across all commercial properties listed in September 2025 reached $2.9m, up 2.5% year-on-year, although down 6.7% compared with August.
This suggests that while short term price fluctuations persist, underlying market confidence remains stable.
National trends – a balanced outlook.
Across the country, new commercial listings totaled 367 in September, representing a 4.9% increase year-on-year and a 9.2% rise month-on-month. This lift in supply indicates growing activity among sellers responding to steady buyer interest and early signs of recovery in the broader economy.
Looking more closely at listing subtypes, industrial buildings remain a standout category, with listings up 32.3% year-on-year and 23.5% month-on-month. This strong performance reflects high demand for warehousing and logistics space as e-commerce and distribution networks expand nationwide.
Retail also showed moderate strength, up 7.6% year-on-year, while office listings fell 34.4%, which could indicate a more cautious approach to this sector as businesses continue to reassess workspace requirements. Commercial land listings were also down 15.2% year-on-year.
Regional insights – contrasting trends in Auckland and Canterbury.
In Auckland, the market softened slightly in September. The region’s average asking price fell 8.8% year-on-year to $4.2m, while also dipping 5.3% month-on-month.
Vendor activity levels in Auckland remain strong. The region recorded 140 new commercial listings during September, a substantial 33% year-on-year increase, suggesting that property owners and investors are feeling more confident in the level of buyer demand.
In contrast, the average asking price rose 6.6% year-on-year to $2.4m in the Canterbury region, alongside a 5.8% month-on-month lift. However, new listings were down 17% year-on-year, which could be a contributing factor in the upward pressure on prices as buyers compete for limited stock.
Growing interest and intent in the commercial sector.
Importantly, search activity for commercial property has been on a steady upward trajectory throughout 2025. Each month this year, more people have searched for commercial listings on realestate.co.nz compared to the same month in 2024. In September, the year-on-year increase was 15%.
Even more encouraging is the lift in enquiry numbers. An increase of 20% more enquiries about commercial sale listings year-on-year during September suggests that potential buyers are moving beyond the research phase and actively seeking opportunities.
Outlook – confidence returning as OCR drops.
Lower borrowing costs are expected to stimulate both investor and owner-occupier confidence, supporting greater transactional activity through the remainder of the year.
With search activity and enquiry levels already trending upwards, these conditions suggest the commercial sector is well positioned for an active close to 2025.