PHOTO: FILE
Property prices across Aotearoa have taken another dip — the second so far this year — according to the latest Trade Me Property Pulse Report. The national average asking price in April dropped to $855,150, down 0.8% from March and 2.6% compared to April 2024.
This cool-down isn’t surprising, says Trade Me Property Customer Director Gavin Lloyd, who attributes the slump largely to seasonal patterns.
“As we move into the colder months, we typically see a drop in buyer activity. House hunting just isn’t as appealing when the weather turns, and properties don’t present quite as well,” explains Lloyd.
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⏳ Properties Sitting Longer on the Market
Properties are also taking longer to sell, with the average time onsite increasing from 56 days in March to 62 days in April. While that’s still quicker than the 85-day average in January, the trend suggests sellers may need to recalibrate their expectations.
“The longer a listing stays on the market, the more likely it is that sellers will need to adjust their price. This is especially true in a market with plenty of stock available,” Lloyd adds.
📉 Auckland Leads the Downturn
Tāmaki Makaurau (Auckland) posted the largest monthly drop among the regions, with prices falling 1.0% from March and 3.2% year-on-year.
“Auckland’s market has been volatile. We saw a 10-month high in March, followed by the steepest drop since August 2024. With prices hovering near the million-dollar mark again, all eyes will be on how the city’s market weathers winter,” Lloyd says.
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📦 Fewer Listings, Weaker Demand
After a surge in listings in March, supply dropped by 4% in April. Meanwhile, buyer demand fell by 13%, suggesting a quieter period ahead.
Every region monitored by Trade Me recorded a month-on-month drop in listings, with the West Coast and Nelson/Tasman down 7%, and Canterbury, Gisborne, and Taranaki each down 6%.
Despite the decline, Lloyd says there’s still plenty of choice for buyers:
“Compared to April 2024, there are thousands more properties listed. That gives buyers the upper hand, and vendors who want to sell need to be realistic — especially on price.”
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🏠 What This Means for You
Buyers: You’re in a strong position with more choice and softer prices.
Sellers: Be ready to meet the market — especially if you want to move your property before winter sets in.