/Monthly Market Update - January 2025

The New Zealand property market commenced 2025 with notable activity, reflecting a blend of increased listings and rising property values.

National Overview

  • Listings Surge: January witnessed a 5% increase in new property listings compared to the same month last year, with significant contributions from regions outside Auckland. Notably, Canterbury experienced a 13% rise, while Wellington saw an 8% uptick in new listings.
  • Value Appreciation: The national average property value climbed by 1.1% ($11,000), reaching $969,000 over the three months ending January. This marks the third consecutive month of value growth, indicating sustained buyer confidence.

 January tile 2025

Regional Highlights:

  • West Coast: Leading the growth with a 2.2% ($11,000) increase, bringing the average property value to $486,000.
  • Auckland: experienced a 2% ($26,000) rise, elevating the average property value to $1.307 million. Within Auckland, Rodney district stood out with a 3.3% ($46,000) increase, reaching an average of $1.437 million.

Market Dynamics

The uptick in new listings, especially in regions beyond Auckland, suggests growing vendor confidence. Despite a record number of homes available nationwide, buyer activity remains robust. Factors such as declining interest rates and stable inflation, which held at 2.2% in the last quarter of 2024, have bolstered buyer willingness to engage in the market.

Hauraki-Coromandel Market Focus

January has seen varied activity across the Hauraki-Coromandel region, with positive momentum building in several key areas. While some offices reported slower buyer enquiry over the holiday period, there is growing optimism that February and March will bring more decisive action from prospective buyers. Pauanui and Tairua saw increased appraisal requests, with sellers becoming more curious about the market. Open home attendance varied, but new listings attracted good interest, particularly in Pauanui, Matarangi, and Whitianga. Thames remained steady, drawing interest from retirees and young families due to its accessibility and amenities. Despite some hesitation among buyers, the prospect of lower interest rates and renewed confidence is expected to drive activity in the coming months. The outlook for 2025 remains optimistic, with agents seeing signs of renewed energy in the market.

Sources: OneRoof House Price Report - February 2025; Landmark Homes Coromandel and Hauraki

January Infographic 2025