PHOTO: The national average asking price reached $883,200 in October. FILE
New Zealand’s property market has roared into life this spring, with new listings and buyer demand hitting their highest levels in years, according to the latest Trade Me Property Pulse Report.
The number of new listings surged 29% in October compared with September — and 3% year-on-year — marking the most active month for new inventory since late 2021.
📊 Buyer confidence also continues to climb, with demand up 11% month-on-month and an impressive 18% compared to the same time last year.
“It’s awesome to see the property market firing on all cylinders in October, proving that the spring selling season is well and truly underway,” says Trade Me Property Customer Director, Gavin Lloyd.
“Buyers appear to be feeling the confidence that comes with more choice too, as we’ve seen strong demand both compared to September and year-on-year.”https://www.propertynoise.co.nz/introducing-nz-business-database-2024-the-ultimate-resource-for-connecting-with-new-zealand-companies/
🌆 Regional Breakdown
Auckland recorded a 33% jump in new listings from September and 4% year-on-year.
Wellington followed closely with new listings up 6% month-on-month and 33% compared to last year.
Canterbury also saw solid growth, with listings climbing 5% from September and 20% year-on-year.
Demand surged alongside listings — searches were up 10% in Auckland, 15.5% in Wellington, and 7.9% in Canterbury month-on-month. Year-on-year, demand grew between 5–10% in Auckland and Wellington, and a remarkable 31% in Canterbury.
Outside the major centres, Northland (+49%) and Marlborough (+43%) saw standout jumps in new listings, with demand rising sharply — 42% in Northland and 11% in Marlborough year-on-year.
💰 Asking Prices Rising Across the Motu
The national average asking price reached $883,200 in October — up 6% ($48,000) from September and steady year-on-year.
“We’ve now seen three straight months of positive growth in the average asking price, with the increase between September and October the biggest month-on-month jump since January,” says Lloyd.
Twelve of the 15 monitored regions saw price growth, led by:
🏠 Gisborne (+17%)
🏡 Hawke’s Bay (+13%)
🌄 Marlborough (+13%)
🌿 Northland (+11%)
🌊 Bay of Plenty (+10%)
Only Southland (-2%), the West Coast (-1%), and Taranaki (0%) missed out on price gains.
⏱️ Properties Selling Faster
Homes are spending less time on the market, with the median days onsite dropping from 65 to 57 between September and October — the lowest since March.
“Not since early 2024 have we seen days onsite this low,” notes Lloyd. “It signals a more balanced market, after a long period where conditions favoured buyers.”
🔍 Summary
With record spring listings, rising buyer activity, and prices on the move, the New Zealand housing market appears to be shaking off the winter chill and shifting into higher gear — setting up a potentially lively summer selling season.
