Kiwi Keeping Their Finger On The Pulse Of The Property Market

The number of residential real estate listings on Trade Me Property is at a five-year high, and audience figures for January show renewed buyer interest in the property market, with views up 11 per cent nationwide year-on-year.

December typically sees a drop in property listing views on Trade Me as people focus on end of year activities and the holiday season. But January 2025 saw a 43 per cent month-on-month rebound in views - much faster than in previous years, says Gavin Lloyd, Trade Me Property Customer Director.

“In recent years the post-holiday return to site has been much slower, taking several months to reach pre-holiday levels,” he said. “This year's swift recovery is likely due to recent interest rate cuts and increased consumer curiosity in the market.”

"While a decrease in listing views over the holiday period is typical, this rapid rebound suggests that many Kiwi may be flirting with the possibility of buying or selling in 2025 and are getting an early feel for the market,” he said.

“Looking at our three major cities, listing views in Auckland and Canterbury were up 15 per cent each year-on-year, and in Wellington, property listing views were up ten per cent.”

Listings at a five-year high

Trade Me Property has seen a surge of properties hit the market since the New Year with residential for sale property listings up 17 per cent year-on-year in January to around 39,000.

“This is the most property listings we've seen on Trade Me in five years, continuing a year-on-year upward trend,” says Gavin Lloyd.

Wellington has seen the largest jump in properties for sale with listings up 28 per cent year-on-year, Canterbury up 23 per cent while Auckland property listings are up 17 per cent year-on-year.

“It seems that a lot of vendors have come back from the break and are ready to make a move in 2025 which is great news for buyers who now have more properties and more choice.”

The national average asking price in January was $842,900, a 0.8% decrease from December. Most New Zealand regions showed relatively stable market conditions, with minor fluctuations.

The most significant changes were seen in Gisborne, with a 6.9% increase in average asking price, and Otago, which saw a 2.9% decrease.

Property market strength in Gisborne, West Coast, and Southland

Gisborne property prices surged 6.9% in February month-on-month, reaching an average asking price of $648,450. This marks the second consecutive month of price increases for the region, following a 3.9% rise in December.

"This upward trend will be welcome news for Gizzy residents considering selling. The increased prices suggest stronger buyer demand, benefiting both sellers and buyers" notes Lloyd.

Other regions seeing growth include the West Coast and Southland. These two take the top spot achieving the highest year-on-year (YoY) increases in average asking prices. The West Coast saw an 8.4% YoY increase, reaching an average of $509,600, while Southland experienced a 6.8% YoY average of $535,050.

Demand in these regions is also strong. Southland saw a nine percent month-on-month increase in listings and a 49% jump in views during January. The West Coast experienced a 12% month-on-month increase in listings and a 34% rise in views during the same period.

Property size data across our three major cities

Auckland experienced a notable asking price decrease across all property sizes. Five-plus bedroom homes saw asking prices fall to 10.7%, 3-4 bedroom properties decreased by 4.9% and 1-2 bedroom units experienced a 12.1% decline.

Wellington’s market showed more modest changes. Five plus bedroom properties saw a 1.7% decrease, 3-4 bedrooms decreased by 2.0% and one-two bedroom units saw a 1.1% drop.

Christchurch presented a mixed picture. Five-plus bedroom homes experienced the largest decrease, falling 14% during January. Comparatively three to four bedroom homes saw a slight increase of 0.4% and one-two bedroom properties rose to 0.8%. Property size data across our three major cities

Auckland experienced a notable asking price decrease across all property sizes. Five-plus bedroom homes saw asking prices fall to 10.7%, 3-4 bedroom properties decreased by 4.9% and 1-2 bedroom units experienced a 12.1% decline.

Wellington’s market showed more modest changes. Five plus bedroom properties saw a 1.7% decrease, 3-4 bedrooms decreased by 2.0% and one-two bedroom units saw a 1.1% drop.

Christchurch presented a mixed picture. Five-plus bedroom homes experienced the largest decrease, falling 14% during January. Comparatively three to four bedroom homes saw a slight increase of 0.4% and one-two bedroom properties rose to 0.8%.

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