In April 2025, New Zealand's property market demonstrated resilience amidst global economic uncertainties, maintaining stability in prices and offering increased options for buyers.​

The national average asking price experienced a slight year-on-year decrease of 1.7%, settling at $852,364. This figure remains within the narrow band of $850,000 to $890,000 that has characterized the market over the past two years, indicating a period of stability. Notably, regions such as Gisborne, the Central North Island, Wairarapa, and Hawke’s Bay reported significant year-on-year increases in average asking prices, with Gisborne leading at a 17% rise.​

Stock levels reached 35,924 homes for sale nationwide, marking a 6.2% increase compared to the previous year. This abundance of listings provides buyers with a wider selection, although sales activity has not surged correspondingly. Data from the Real Estate Institute of New Zealand (REINZ) indicated a steady month-on-month increase in residential sales during the first quarter of 2025, from 3,774 in January to 7,640 in March.​

New listings in April totalled 8,518, reflecting an 11.6% decline year-on-year and a 29.2% drop from March. This seasonal decrease is typical as shorter days approach, yet buyer interest remains steady, with the highest level of online enquiries in three years.

​Sarah Wood, CEO of realestate.co.nz, emphasized the current market's unique position, stating that the well-stocked and stable environment offers both buyers and sellers time, choice, and flexibility. She noted that, despite global economic pressures, the New Zealand property market provides a silver lining for those seeking certainty in their transactions.​

In summary, April 2025 presents a balanced property market in New Zealand, characterized by stable prices, increased stock, and sustained buyer interest, offering favourable conditions for both buyers and sellers.

Local Market Overview

It’s very much a tale of two sides of the Peninsula at the moment. On the east coast, things have remained relatively quiet. Open homes have seen low turnout, enquiry levels on new listings are soft, and Easter was particularly slow. While there are buyers out there, they’re in no rush—many are waiting to sell first, and for those with property outside the area, it’s taking time. The poor Easter weather didn’t help, though things did pick up slightly during the second week of the school holidays.

We had hoped the recent OCR cut might prompt more decisive buyer activity, but we’ve yet to see any real movement—it may take until May for that to filter through. Tradespeople are reporting reduced demand, and building activity has slowed, which affects local spending and confidence. Easter was viewed by many vendors as a last opportunity to attract a buyer before winter, and we’ve seen a wave of price changes in response to the quiet conditions.

The market’s current pause feels at odds with falling interest rates, however wider global uncertainty continues to weigh heavily on buyer confidence. Some sellers are choosing to withdraw for now, in the belief that their listings have gone ‘stale’. As we head into winter, we may see more of this pause, with hopes pinned on a spring resurgence. Historically, the east coast saw the majority of property sales in summer, but over the past decade, sales have been much more evenly spread throughout the year.

On the other hand, the Hauraki property market is performing well, with growing momentum across various price ranges and property types. First home buyers remain active, particularly in the $500K–$650K bracket, while interest is returning to both lifestyle properties and the higher end of the market. Encouragingly, multiple-offer scenarios have returned over the past month, reflecting a noticeable lift in buyer activity.

Appraisal and listing enquiries remain consistent, and as always, well-presented, well-priced homes continue to attract strong interest and produce solid results. In this competitive environment, having an experienced and dedicated agent is more important than ever.

Our Thames, Paeroa and Hauraki Plains offices continue to operate at a steady pace, bolstered by first-home buyers and more permanent residents. We’re proud to be holding good stock and working with motivated vendors, despite ongoing economic and market headwinds.