PHOTO: REINZ
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As summer fades and crisp mornings set in, New Zealand’s property market is doing the opposite—heating up. The latest March data from the Real Estate Institute of New Zealand (REINZ) shows a significant lift in property sales across the country, sparking optimism among buyers and sellers alike.
🗣️ “Even as we shift into the cooler months, the property market remains hot. Open homes are bustling, auctions are competitive, and even unsold listings are attracting solid post-auction offers,” says **REINZ Acting Chief Executive Rowan Dixon.
🚀 Sales Soar Nationwide
📌 National sales volumes jumped 12.8% year-on-year in March (from 6,774 to 7,640 sales), reflecting the combined impact of lower interest rates and still-affordable house prices.
📌 Outside Auckland, the surge was even higher at +14.2%—from 4,622 to 5,278 sales.
Some regions saw eye-popping gains:
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Tasman: +48.6%
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West Coast: +23.6%
🏘️ “This spike shows that Kiwis are taking advantage of better buying conditions—especially in the regions, where affordability is creating exciting opportunities,” adds Dixon.
📉 House Prices Dip Slightly, But There’s More to the Story
The national median price dipped 1.4% year-on-year, now sitting at $790,000.
Outside Auckland, prices fell 2.1%, from $715,000 to $700,000.
📈 However, not all regions followed that trend:
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West Coast saw the biggest price increase: +11.5% ($370,000 → $412,500)
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Canterbury and Taranaki held steady at $695,000 and $600,000 respectively
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Nelson experienced a sharp decline: –11.4% to $640,000
🧊 “While sales are up, prices remain soft. With high inventory levels, buyers are spoilt for choice and don’t feel the urgency to rush,” Dixon explains.
🏡 Listings & Inventory on the Rise
More homes hit the market in March:
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Listings up 5.0% nationally (from 11,455 to 12,029)
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Inventory jumped 10.9% year-on-year to 36,870
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Auckland alone contributed heavily to these gains
💬 “This influx gives buyers leverage, but it’s also a sign of growing confidence among sellers as interest rates ease,” says Dixon.
📉 Auction Volumes and Days to Sell
📉 March saw 1,204 auctions, making up 15.8% of total sales—a slight dip from last year.
⏳ Median days to sell rose to 41 days, up 3 days from March 2024.
🧮 House Price Index (HPI) Snapshot
🏘️ New Zealand HPI: 3,632
⬇️ Down 0.7% year-on-year
⬇️ Down 0.6% from February 2025
📈 5-year average annual growth: 3.7%
🏅 Top Region: Southland (leading HPI gains for 9 months straight)
🔮 “With the OCR dropping again and borrowing becoming more accessible, the energy in the market is returning. We’re expecting more movement and momentum heading into winter,” concludes Dixon.
