The stability in interest rates has encouraged more buyers to enter the market, though levels of confidence vary by region. While some areas are experiencing consistent conditions, certain cities are still navigating changes in affordability and demand trends.
Market Summary:
In May 2025, the number of properties sold in New Zealand rose by 8.9% compared to the same month last year, increasing from 6,579 to 7,166 sales. When excluding Auckland, sales increased by 11.3%, from 4,593 to 5,114. Regionally, Northland recorded the highest year-on-year increase, rising 33.3% from 171 to 228 sales.
The median number of days to sell properties in New Zealand has increased, rising by three days to 47, while in
New Zealand, excluding Auckland, it rose by four days to 47. The increase in the median days to sell reflects a market that, while more active in terms of transactions, is also characterised by greater buyer caution.
Purchasers are taking longer to commit, which local agents suggest could be due to a lack of buyer urgency and the fact that buyers have time to find a property that best suits them.
Northland Stats:
The median price for Northland decreased by 2.9% year-on-year to $631,000.
Owner-occupiers, first home buyers and local buyers were the most active across the region, with agents in Kerikeri stating there is a slight decline in higher-end properties. Some vendors had realistic expectations, while others were still a bit higher than current market valuations. Attendance at open homes was varied, with some properties seeing high numbers, while others reported little to none. Auction room attendance saw good bidder numbers and clearance rates in Whangarei.
Market sentiment was influenced by buyers’ lack of urgency, decreased interest rates, and the increased number of active first-home buyers, which resulted in a relatively steady and flat market. Local salespeople cautiously predict a small window of opportunity for current properties to sell, with no influx of new properties on the market during winter.