Realestate.co.nz data shows 8,769 new listings were recorded in August 2025.
The figure is 9% higher than in the same month last year, and the increase comes after a quieter winter, lower borrowing costs are contributing to market activity.
Positive Signals in New Zealand’s Housing Market
According to Sarah Wood, CEO of realestate.co.nz, “It’s exciting to see vendor confidence returning to the market. Search activity on our site is up, indicating buyers are also looking with intent and finding greater choice available to them. The signs are all positive for continued movement in the market.”
Regional Property Listings Show Strong Growth
While national supply rose, regional results stood out. Nine of 19 regions recorded more new listings than a year ago. The Bay of Plenty led with a 46.7% increase, followed by Gisborne (40.9%) and Coromandel (39.1%).
Wood noted that “spring seems to have hit the property market early this year,” with more choice likely to draw buyers back and encourage sellers to act.
National and Regional Property Price Trends
The national average asking price remained stable at $862,652, up 1.7% year-on-year. Gisborne reached a record $815,203, entering the $800,000 bracket for the first time since records began.
Six regions saw annual price growth, including Bay of Plenty, Coromandel, Manawatu/Whanganui, Northland, and Taranaki.
Otago slipped below $600,000 for the first time since December 2024, alongside declines in the Central North Island and Hawke’s Bay.
“Nationally, prices are steady, but seeing regions like Gisborne hit an all-time high shows there’s still upward pressure in parts of the market. Otago dropping out of the $600,000 bracket reminds us how localised movements can be,” Wood said.
Falling Interest Rates Drive Buyer Confidence
The Official Cash Rate (OCR) has dropped from 5.25% a year ago to 3.0% today. A major driver of activity is falling borrowing costs.
“A year ago, the OCR was at 5.25%, which kept borrowing costs high and buyers cautious,” said Wood. “Fast forward to today, with the OCR at 3.0%, and the change is significant. Lower rates are giving buyers more confidence to act and are easing the pressure on homeowners.”
Housing Stock Levels Hold but Show Regional Contrasts
Nationwide housing stock reached 30,430 properties in August, a 1.4% rise on last year. The West Coast posted the biggest increase at 17%, while Gisborne rose 15.9%. Southland recorded the largest fall, down 20.9%.
“We’ve seen stock levels hold steady nationally, but as this data shows, the real story is in the regions,” says Wood. “Stock levels have dropped year-on-year in 10 of our 19 regions.”
A Window of Opportunity for Buyers and Sellers
The mix of increased listings, steady national prices, and cheaper loans is fuelling a sense of renewed balance. Regional disparities remain, but momentum is more evident than at this time last year.
“With more than 8,500 new properties hitting the market in August, now is the time for both buyers and sellers to start making decisions about their next step,” said Wood.