PHOTO: FILE
📉 House Prices Stay Steady, But Buyers Hold Back
- The average asking price remains below $900,000 for over two years.
- Nelson & Bays was the only region to record a price increase (2.5%).
- Six regions, including Waikato and Hawke’s Bay, saw declines in both yearly and monthly prices.
- The national average asking price dipped 2.6% year-on-year, signaling continued affordability concerns.
📊 More Houses on the Market Than Ever Before
- Over 36,870 properties were for sale in March 2025 – the highest in a decade!
- That’s 10.9% more than the same time last year.
- Every region except Northland saw an increase in available homes.
- This abundance of stock is keeping price pressure in check, giving buyers more power in negotiations.
🏠 Homes Are Selling Faster Than Before
- Listings are spending less time on the market compared to February.
- More properties were sold within 30 to 60 days, rather than sitting unsold for months.
- February saw 6,287 properties sold nationwide, a 3.4% increase from last year.
- While this points to improving market confidence, transaction levels remain below the peaks of previous years.
📈 Seller Confidence Is Back – But Will Buyers Bite?
- New listings up 5.0% year-on-year, totaling 12,029 in March.
- Gisborne leads the charge, with a 23.8% increase in new listings.
- Coromandel, on the other hand, saw a 28.8% drop in new listings.
- The contrast between regions highlights local market variations, requiring sellers to adapt their strategies accordingly.
🔍 What’s Next for the Market? Realestate.co.nz spokesperson Vanessa Williams says, “This isn’t a runaway market, but momentum is building.”
- The housing market is showing early signs of recovery, but economic caution still looms.
- Buyers remain hesitant, with affordability concerns keeping demand in check.
- Experts predict steady, not sudden, price changes in the months ahead.
- Interest rates and inflation remain key factors influencing market trends.
💰 Is Now the Right Time to Buy or Sell? With high stock levels and stable prices, buyers have more options than ever. Sellers, however, need competitive pricing and strategic marketing to attract offers.
- First-home buyers are slowly returning, but many remain priced out of key urban centers.
- Investors are monitoring the market closely, with potential interest rate adjustments influencing decisions.
- Those looking to upsize or downsize will find favorable conditions if they price their homes realistically.
🔔 Key Takeaways ✅ House prices remain stable, staying under $900,000 for two years. ✅ Properties are selling faster, spending less time on the market. ✅ Seller confidence is growing, but buyers are still cautious. ✅ Listings are at record highs – giving buyers plenty of choices. ✅ Regional differences are significant, requiring tailored market strategies.
📢 Final Word: 2025 isn’t a boom or bust year – yet. Keep watching this space as the market slowly shifts!
