First homebuyers

PHOTO: FILE

📣 The Real Estate Institute of New Zealand (REINZ) has just dropped its March data—and there’s plenty of good news to go around for buyers and sellers alike.

As we ease into autumn, traditionally a quieter season, the national property market is showing strong signs of life. đŸŒŹïžđŸ‚

đŸ—šïž “As we transition into the cooler months, the market remains vibrant rather than stagnant,” says Acting Chief Executive Rowan Dixon. “Increased open home attendance and post-auction interest are strong indicators of a resilient buyer base.”

📊 Key March 2025 National Stats at a Glance:

✅ Sales Up 12.8%: Sales rose from 6,774 in March 2024 to 7,640 this year
✅ Regional Surge: NZ (excluding Auckland) saw a 14.2% increase—Tasman (+48.6%) and West Coast (+23.6%) led the charge
✅ Listings Up 5.0%: More Kiwis are listing their homes as confidence grows
✅ Median Price Dip: National median fell by 1.4% to $790,000, while NZ (excluding Auckland) dropped 2.1% to $700,000
✅ Inventory Climbs: Up 10.9% year-on-year, giving buyers more options
✅ Auction Share: 15.8% of all sales occurred under the hammer
✅ Time to Sell: Median days to sell increased by 3 to 41 days nationally

🏠 Regional Highlights

📍 Tasman: 🚀 48.6% jump in sales—the highest since records began for March
📍 Canterbury: đŸ”„ Highest sales count since March 2021
📍 Gisborne: 📈 Leading the way with a 23.8% increase in new listings
📍 West Coast: 💰 Median price surged by 11.5% to $412,500

On the flip side, 📉 Nelson saw the most significant drop in median price—down 11.4% to $640,000. Taranaki and Canterbury held steady with no change year-on-year.

💬 Commentary from REINZ

đŸ—šïž “This growth suggests that lowering interest rates and competitive pricing are motivating buyers,” says Dixon. “Even outside the big cities, demand is climbing—showing strong market health nationwide.”

With more listings and higher inventory, buyers are less pressured, knowing they won’t miss out if they let one property go. Meanwhile, sellers are becoming more active, anticipating a steadier market due to falling interest rates and a predicted OCR cut. 🏩📉

🏡 House Price Index (HPI) Snapshot

📉 NZ’s HPI fell 0.7% year-on-year to 3,632
📉 Month-on-month, it slipped 0.6% from February
📈 Over five years, NZ’s HPI has grown at an average annual rate of 3.7%
🏆 Southland remains the top-performing region for HPI movement—nine months in a row!

📈 Inventory & Listings Surge

đŸ—‚ïž Inventory: Up in 14 of 15 regions compared to last year
📬 Listings: Up in 12 of 15 regions—Gisborne and West Coast posted 20%+ jumps
📩 Taranaki has seen inventory growth for 41 consecutive months
🔁 Wellington has posted 20%+ YOY inventory growth for 11 months running
📊 Otago has experienced 30%+ YOY inventory spikes for 9 months

🔹 Auctions & Days to Sell

📉 1,204 properties sold at auction in March, representing 15.8% of total sales—slightly down from 17.2% in March 2024
⏳ National median days to sell: 41 days (up 3 days from 2024)
🚀 Taranaki and Waikato saw their quickest sales since 2022

📬 Final Word from REINZ

đŸ—šïž “As the OCR continues to drop and confidence builds, we expect the market to maintain this forward momentum into the winter months,” concludes Dixon. “There’s a new energy returning—especially in regional New Zealand.”

đŸ“© For media enquiries:
📧 Communications and Engagement Team
✉ communications@reinz.co.nz

🔍 Fact Sheet Summary:

📈 National sales up 12.8% | Excl. Auckland up 14.2%
📋 Listings up 5.0% nationally | Inventory up 10.9%
⏳ Median days to sell up by 3 days to 41
💰 West Coast led price growth (11.5%)
🔹 Auctions made up 15.8% of all sales
📍 Southland tops HPI chart again

🔗 👉 Click here for the full Monthly Property Report
🔗 📊 Click here for the House Price Index (HPI) Report

🔗 For more in-depth regional stats, visit the REINZ Regional Reports.