National property listings in New Zealand have decreased by nearly 2,000 for the third month in a row, the July 2025 NZ Property Report reveals.
In the said month, the number of listings on realestate.co.nz stood at 30,430, down from 36,870 in March this year and 0.4% lower compared to July of the previous year.
Stock listed on realestate.co.nz was at 34,415 and 32,384 in May and June 2025, respectively.
realestate.co.nz spokesperson Vanessa Williams said despite the seasonal slowdown, buyer demand remains consistent, and there are opportunities available for those prepared to take action.
“Although we’re seeing fewer homes coming onto the market, that doesn’t mean buyers have disappeared,” Williams said.
“The real estate industry is telling us that vendors who are realistic with their price expectations are selling, and with less competition, it can actually be a smart time to list your property if you’re ready.”
In July, 58.5% of all properties listed on realestate.co.nz were priced under $850,000, which is notably below the national average asking price of $858,189 for that month.
For Williams, “First home buyers have a prime opportunity to look at their options with a solid band of homes listed for under $850,000.”
“For buyers who have their finances in order and a clear idea of what they’re after, now is a great time to secure a foothold before competition heats up again.”
House prices differ by region
Asking prices on the West Coast increased by 25.3% year-on-year, reaching $500,000 for the first time since January 2025. It is one of only three regions to show growth both month-on-month and year-on-year.
Nelson & Bays rose to $874,818, reflecting an increase of 2.6% year-on-year and 1.0% month-on-month, while Northland climbed to $843,362, up 9.8% year-on-year and 9.2% month-on-month.
Meanwhile, four regions experienced decreases both month-on-month and year-on-year. Central Otago/Lakes District is at $1,437,577, showing an 8.5% decrease year-on-year and a reduction of 2.3% month-on-month.
Three more regions also saw declines:
- Marlborough: $725,377—down 13.6% YoY and 1.4% MoM
- Wairarapa: $711,778—down 3.2% YoY and 1.5% MoM
- Wellington: $807,503—down 3.0% YoY and 2.7% MoM
Despite an overall decrease in total stock, certain areas of the motu defied the trend. Gisborne led with a 35.5% increase, listing 123 properties, followed by the West Coast, which saw a 20.6% rise with 316 properties listed, topping the year-on-year stock growth chart.
“We have just 31 days until spring, and traditionally we see a surge of properties come to the market at that time,” Williams said.
“For buyers who are ready now, there’s a window of opportunity, especially with so many homes priced below the national average.”
Although the number of new listings entering the market has decreased, Williams noted that vendors who align their price expectations with buyers are more likely to successfully complete their sales.
“For now, buyers remain active, and the market continues to reward those ready to move, but it will be interesting to see what happens in September as we move into the expected spring surge,” she added.