PHOTO: REINZ
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As summer fades and crisp mornings set in, New Zealandâs property market is doing the oppositeâheating 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.
đŁïž âEven 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,â says **REINZ Acting Chief Executive Rowan Dixon.
đ Sales Soar Nationwide
đ 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.
đ Outside Auckland, the surge was even higher at +14.2%âfrom 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%
đïž âThis spike shows that Kiwis are taking advantage of better buying conditionsâespecially in the regions, where affordability is creating exciting opportunities,â adds Dixon.
đ House Prices Dip Slightly, But Thereâs 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.
đ However, not all regions followed that trend:
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West Coast saw the biggest price increase: +11.5% ($370,000 â $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: â11.4% to $640,000
đ§ âWhile sales are up, prices remain soft. With high inventory levels, buyers are spoilt for choice and donât feel the urgency to rush,â Dixon explains.
đĄ 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
đŹ âThis influx gives buyers leverage, but itâs also a sign of growing confidence among sellers as interest rates ease,â says Dixon.
đ Auction Volumes and Days to Sell
đ March saw 1,204 auctions, making up 15.8% of total salesâa slight dip from last year.
âł Median days to sell rose to 41 days, up 3 days from March 2024.
𧟠House Price Index (HPI) Snapshot
đïž New Zealand HPI: 3,632
âŹïž Down 0.7% year-on-year
âŹïž Down 0.6% from February 2025
đ 5-year average annual growth: 3.7%
đ
Top Region: Southland (leading HPI gains for 9 months straight)
đź âWith 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,â concludes Dixon.
