PHOTO: 📊🏘️ New Zealand’s Real Estate Reality Check. FILE
The New Zealand housing market remains firmly in the spotlight as the country navigates a complex web of inflationary pressure, shifting interest rates, and wavering buyer confidence. CoreLogic’s Head of Research, Nick Goodall, has just released his latest market update — and it’s essential viewing for anyone with skin in the game, whether you’re a homeowner, investor, or simply keeping tabs on the property pulse.
💡 In his trademark clear and concise style, Goodall walks viewers through the evolving data trends, key market movements, and what to expect heading into the second half of 2025. His analysis underscores the impact of recent economic policy shifts, buyer sentiment, and regional disparities across the motu.
📈 Key Takeaways from CoreLogic’s Latest Market Update
🔹 National Property Prices Show Modest Recovery
After several months of decline, national values have stabilised, with some regions seeing a very mild upswing. However, it’s not a uniform story — with Auckland and Wellington still feeling the sting of earlier corrections.
🔹 Interest Rates Remain a Barrier
While the Reserve Bank has paused hikes, mortgage rates remain elevated. Goodall notes that this is keeping many would-be first-home buyers and investors sitting on the sidelines.
🔹 Sales Volumes Flatlining
Despite improving confidence, actual sales volumes remain subdued. Goodall highlights that listings are up, but deals are taking longer to close as buyers drive harder bargains.
🔹 Investors Adjusting Strategies
With interest deductibility changes still biting, many investors are pivoting. We’re seeing a greater focus on yield, regional diversification, and longer-term holds.
🔹 New Builds vs. Existing Stock
New build premiums are narrowing. With construction costs remaining high and consent volumes dropping, buyers are more cautious — though still enticed by the First Home Grant and Kāinga Ora-backed incentives.
🏘️ Region-by-Region Snapshot
📍 Auckland: Still soft. Weak sales volumes and ongoing price pressure, especially in outer suburbs.
📍 Wellington: Values appear to be bottoming out, though recovery remains fragile.
📍 Christchurch: Holding up well. A standout for resilience in the face of national trends.
📍 Smaller centres (Napier, Rotorua, Invercargill): Varying performance. Investor interest and affordability are key influencers.
📉 Where To From Here?
Goodall tempers optimism with realism. The market is not on the brink of a sharp rebound — rather, we’re in a period of consolidation. Buyers are better informed, more selective, and less likely to be swept up in FOMO-driven urgency.
With the general election now well behind us, and economic policy settings more settled, market watchers will be eyeing Spring as a litmus test for confidence. As Goodall emphasises, “Real estate doesn’t like uncertainty — and 2025 has already seen more than its fair share.”
🧠 What This Means for You
✔️ First-home buyers: Be patient and do your homework. The playing field is more level than it has been in years.
✔️ Investors: Review your portfolios carefully. Yield is king in this climate.
✔️ Sellers: Presentation, pricing and patience are everything right now.
✔️ Agents: Strategy and local knowledge are your biggest assets in converting listings to sales.
🧭 Final Word
New Zealand’s property market is far from static — and CoreLogic’s latest deep-dive provides clarity in what remains a noisy and often contradictory space. Nick Goodall’s insights offer a grounded, data-driven lens for interpreting where things stand — and where they might go.
For the latest trends, insights and suburb-by-suburb breakdowns, visit CoreLogic New Zealand’s official platform. Their market intelligence continues to be among the most trusted and transparent in the industry.
