Regional Property Markets Surge as National Prices Stay Steady in New Zealand

July 14, 2025

The New Zealand property market remained stable in June 2025, according to new figures released by the Real Estate Institute of New Zealand (REINZ). The national median price held steady year-on-year at $770,000, while listings declined and regional activity picked up.

"We’re seeing a market that is steady on the surface but with some movement underneath at a regional level," said REINZ chief executive Lizzy Ryley. "The unchanged national median price suggests stability, yet this reflects contrasting regional dynamics."

Among the 16 regions, ten recorded annual increases in median price. The West Coast led with a 35.5 per cent surge to $420,000, and Southland reached a record $502,500. Excluding Auckland, the national median price rose 1.7 per cent to $691,500. However, Auckland saw a 3.4 per cent year-on-year fall to $990,000.

Sales volumes were up 20.3 per cent compared to June 2024, with 5,865 properties sold nationwide. Gisborne saw the strongest growth in activity with a 70 per cent rise, followed by Southland (+34.9 per cent), Bay of Plenty (+33.3 per cent), and Marlborough (+32.7 per cent).

New listings declined 2.5 per cent nationally, and 3.3 per cent excluding Auckland. Despite this, total inventory increased 2.0 per cent year-on-year to 32,384 listings. Auction sales made up 11.5 per cent of transactions. Median days to sell rose by three days to 50 nationally.

Ryley noted signs of buyer caution. "The increase in median days to sell indicates that buyers are taking a more considered approach," she said. Vendors were mostly realistic, but some were holding off for better spring or summer conditions later in the year.

The national House Price Index (HPI) edged up 0.3 per cent year-on-year, but dipped 0.8 per cent from May.