More than $114 billion of property listed for sale in 2025... and counting

• An extra $2 billion worth of residential property has been listed for sale so far in 2025, compared to the same time last year.
• More than 108,000 homes have been listed to date – 3,000 more than the same period in 2024.
• Gisborne is the land of the rising sun with an 8% increase in average asking price and 31.5% increase in listings. 

Kiwi vendors have listed $114,684,197,610 worth of residential property for sale to date in 2025, according to the latest data from realestate.co.nz.*

In a year which has seen the Reserve Bank effectively half the official cash rate from 4.25% to 2.25%, 108,363 properties were listed for sale, an increase of 2.8% on the same period in 2024 (105,361).

Vanessa Williams, spokesperson for realestate.co.nz, said despite a challenging year economically, Kiwi homeowners have come to the party, giving buyers more choice than they’ve had in a long time.  

“As we end the year on an official cash rate that is almost half what we started the year on, we should expect to see increased activity in the New Year once everyone has enjoyed a summer break. And it seems that has already begun. In November, we saw a record of 1.92 million active property searchers on realestate.co.nz, which suggests the Kiwi love affair with property hasn’t waned.” 

Major centres report marginal gains

Auckland’s average asking price in 2025 was down 1.3% compared to the same period last year. However, the number of new listings increased by 2.9%, rising from 37,829 properties listed in 2024 to 38,915 in 2025, indicating sellers in our super city are more active in the market.

Similar activity was seen in the capital, with Wellington’s average asking price falling 1.9% from $835,713 in 2024 to $819,736 in 2025.  

In the south, Canterbury recorded a 0.5% increase in asking price, going from an average of $720,647 in 2024 to $724,527 in 2025.  The region recorded a 4.4% increase in new listings, with 15,712 properties listed so far this year.  

Gisborne rises above the rest with 31.5% more listings in 2025 than 2024

Gisborne is the standout region for the year, recording an 8% increase in average asking price in 2024, with prices moving significantly from $650,043 to $702,343.  

During the same period, listings in the region increased by 31.5%, from 422 properties to 555.  

To complete Gisborne’s trifecta of results, the region also reported a 31.0% increase in value, with a total of $449,009,000 of property being listed in the region so far in 2025.

Williams says Gisborne’s activity over the past 11 months gives it rockstar status. “Gisborne has been one of the more dynamic regions this year, bucking the national trend of minimal movement. Growth across price, listings, and total value is a rare combination in this market, and it’s cemented Gisborne as a region to watch.”

The West Coast was also a performer of note, with the region’s total value of property listed increasing 16.2%, from $353,869,449 in 2024 to $411,091,900 this year. That was driven by the region’s 13.1% increase in new listings and a 1.9% increase in average asking price from $478,951 in 2024 to $488,269 in 2025.

To fix or flick in 2026?

Off the back of a steady 2025, Williams predicts more movement in the market in the coming year.

“Buyers are waiting in the wings, and it will be exciting to see them come to market,” said Williams. “History tells us that New Zealand’s property market turns on a dime, so we’re waiting for the first of the dominoes to fall. Once buyers step out of the starting gate, we can expect the market to move quickly.”  

“There is still a lot of choice for New Zealanders, so we’re not expecting much movement of prices until stock reduces to around 25,000 properties (currently sitting over 35,000). And given our national aversion to uncertainty, next year’s election may give pause for some buyers and sellers.” 

*Data compares market activity between 2024 and 2025 during the period 1 January to 30 November. 

For media enquiries, please contact:

Hannah Franklin | hannah@realestate.co.nz

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