“The economic hangover is lingering in the property market, but signs of life emerged in March with more properties selling, and faster, than in February...” (RE.co.nz)

In March 2025, the property markets in Hauraki, Coromandel, and the Waikato region, as a whole, exhibited trends that reflected broader national patterns, influenced by economic factors and local demand.

Waikato

The Waikato region's property market in March 2025 mirrored national trends. Nationally, the average property value increased by 0.4% over the three months ending in March, reaching $970,000 (CoreLogic). This growth rate was less than half of that recorded at the end of January, suggesting a deceleration in value appreciation. In March 2025, the average Waikato property price was $753,706 (CoreLogic), with a modest 0.65% increase over the past three months.

Factors contributing to this slowdown include near-record stock levels, with over 40,000 residential listings, leading to a buyer's market where successful vendors are adjusting prices to meet buyer expectations. Falling interest rates and improved home loan deals have encouraged buyer activity, with a 3.4% annual increase in sales as of February.

Coromandel

The Thames-Coromandel District has experienced significant shifts in property values since March 2020. While the average house value peaked at $1,103,000 (CoreLogic) in July 2023—up 33% from the first Covid-19 lockdown—the post-pandemic market correction, rising interest rates, and inflation led to a 17–20% decline in values, causing the market to largely stall, particularly in the holiday homes sector.

This summer has been a mixed bag across our Peninsula offices, with some areas having a banger and others having a lot of time to go fishing. Key market observations include:

• An oversupply of listings and a shortage of buyers, leading to continued downward pressure on prices.
• Lengthy negotiations, with many deals stalling due to persistent gaps between vendor and buyer price expectations.
• Vendors holding onto 2021 price expectations, while buyers make bold offers and are willing to walk away if they don’t secure a deal on their terms.
• Vendors who have contracts on other properties or suffering some financial strain are much more motivated to meet the market
• Some agents overpricing properties to secure listings, adding pressure to sellers when offers come in lower than expected.
• Building inspections increasingly being used as leverage to renegotiate or withdraw from contracts.

On a more positive note, the east coast of the Coromandel Peninsula has seen a noticeable uptick in enquiries over the past two weeks, leading to more conditional offers. However, many potential buyers remain dependent on selling their existing properties, particularly in Auckland. A recovery in that market could drive increased sales activity in our region.

Overall, buyer urgency remains low—there’s no sense of FOMO (Tony Alexander)—but the rise in enquiries could signal the first signs of market movement.

Hauraki

The Hauraki Plains and Paeroa property markets are showing steady signs of recovery, with a strong start to the year reflected in good sales activity across both Richardsons Real Estate offices.

As of February 2025, the average house price in the Hauraki district sits at $617,121 (CoreLogic). Over the long term, property values have shown solid capital growth, increasing by an average of 5.97% per year between February 2005 and February 2025 (REINZ). This steady appreciation reinforces the district’s appeal for both homeowners and investors.

First-home buyers are returning in good numbers, particularly in the mid-to-lower price brackets, where demand remains strong. Well-presented, competitively priced homes at the higher end are also selling, provided they meet buyer expectations.

For sellers, presentation is key to achieving a premium price. With buyers comparing multiple properties before making a decision, ensuring your home stands out can make a significant difference. Well-maintained homes with thoughtful staging and strong marketing are more likely to attract competitive offers.

While market conditions continue to stabilize, opportunities exist for both buyers and sellers. If you’re thinking of making a move, now is a great time to seek expert advice and position yourself for success in this evolving market.