PHOTO: 📰 Property Market | 🏠 House Prices | 🇳🇿 Real Estate | 📊 January 2026 Update. PROPERTY NOISE
🚨Auckland property prices have surged back above the $1 million mark, reclaiming their status as the most expensive in Aotearoa as buyer demand roars back after the summer break.
New figures from Trade Me Property show Auckland’s average asking price jumped more than 9% month-on-month in January to land at $1,040,150, reversing December softness and pushing the city back ahead of the Bay of Plenty.
Nationally, the average asking price rebounded to $857,000, up 7% from December, though flat year-on-year.
📈 Auckland Reclaims Top Spot — But Still Below 2025 Levels
According to Trade Me Property Customer Director Gavin Lloyd, Auckland’s recovery must be viewed in context.
“In Auckland we’ve seen a solid bump on the average asking price from December, however prices remain 3.5% behind where they were in January 2025.”
That means while momentum has returned, Auckland has not fully regained last year’s peak levels.
Meanwhile, the Bay of Plenty presents a contrasting picture:
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Prices flat month-on-month (-0.5%)
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Up more than 4% year-on-year
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Increasing luxury market presence
Lloyd notes that market composition is key.
“In Auckland we’ve been seeing an increase in properties under $800,000, the typical first-home buyer bracket, and a surge in the luxury market in Bay of Plenty with a higher percentage of properties over the $2 million mark.”
🔥 Buyer Demand Surges 40% Post-Holiday
Perhaps more telling than price movement is the demand spike.
Trade Me reports:
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Search activity up 40% on December
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Up 23% year-on-year
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Wellington searches up 58% month-on-month (+19% YoY)
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Auckland searches up 45% (+19% YoY)
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Canterbury searches up 43% (+28% YoY)
Lloyd says this marks a clear shift in market energy.
“Motivated buyers have returned to the market and there’s a solid buyer appetite out there.”
This post-holiday surge suggests confidence may be rebuilding — at least in terms of enquiry levels.
📉 Supply Returns — But Still Tight Year-on-Year
While listings rebounded from December’s seasonal lull, overall supply remains 8% lower than January 2025.
Tighter stock levels combined with rising buyer interest often create upward pressure on asking prices — particularly in major metros.
🏆 Regional Records: West Coast and Southland Hit All-Time Highs
Beyond Auckland, smaller regions are quietly rewriting records.
The West Coast hit a new average asking price peak of $518,400:
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+5% year-on-year
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+11% month-on-month
Southland reached a record $563,000:
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+2% year-on-year
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+11% month-on-month
Lloyd describes these regions as current standouts.
“Both offer a lifestyle and level of affordability that is increasingly attractive to buyers, from first-home hunters to those seeking a change of pace.”
🌊 Gisborne Posts Eye-Catching 59% Monthly Surge
Gisborne recorded one of the most dramatic movements:
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New record average asking price of $737,300
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+9% year-on-year
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+59% from December
However, Lloyd cautions that smaller markets with lower listing volumes can experience sharper price fluctuations.
📊 Regions Seeing Declines
Not all markets rose.
Aside from Bay of Plenty, the following saw modest declines month-on-month:
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Nelson/Tasman (-0.4%)
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Marlborough (-0.2%)
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Northland (-2.6%)
These movements reflect normal regional volatility rather than systemic weakness.
🧠 What This Means for 2026
January’s rebound suggests:
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Buyer confidence is returning
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Search demand is strengthening
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Stock remains relatively constrained
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Regional divergence continues
However, with interest rate expectations and cost-of-living pressures still influencing affordability, the sustainability of price gains remains a key question.
For now, Auckland is back above $1 million — and the market’s energy has clearly shifted.