Lift in listings brings momentum to NZ’s property market

August 2025 - The New Zealand Property Report

Key Takeaways 

• Over 8,500 new listings recorded in August 2025, a 9.0% increase on August ‘24
• Gisborne enters $800,000 average asking price bracket for the first time since records began 18 years ago
• OCR rate starting to ease pressure on homeowners 

Figures

• National average asking price: $862,652 - 1.7% increase year-on-year
• Stock: 30,000 - 1.4% increase year-on-year

Increased supply and recent OCR cuts are most likely behind the upward momentum starting to take place in New Zealand’s property market. 

The latest data from realestate.co.nz showed the 8,769 new listings in August 2025 were a 9.0% increase on the 8,048 new listings recorded in August 2024. 

Sarah Wood, CEO of realestate.co.nz, said spring is always a traditional time to see movement in the market, but stagnant sales over the winter months makes this August surge particularly encouraging. 

“It’s exciting to see vendor confidence returning to the market. Search activity on our site is up, indicating buyers are also looking with intent and finding greater choice available to them. With the national average asking price stable and interest rates coming down, the signs are all positive for continued movement in the market.”  

More choice for buyers as regional listings increase  

In August 2025, nine of 19 regions recorded an increase in new listings compared to 12 months ago. Bay of Plenty led the charge, recording 46.7% more listings last month compared to the same time last year (732 in August 2025 vs 499 in August 2024). 

Gisborne also recorded a significant increase in new listings, with 62 new properties coming onto the market this August compared to 44 in August 2024, a jump of 40.9%.  

Further up the East Coast, Coromandel recorded the third-highest increase in new listings, up 39.1% year-on-year. 

“Spring seems to have hit the property market early this year. This uplift in new listings will start to draw buyers back in and give more sellers the confidence to list. With more than 8,500 new properties hitting the market in August, now is the time for both buyers and sellers to start making decisions about their next step,” says Wood. 

Gisborne sets a new record average asking price, while six regions see growth 

The national average asking price remained stable at $862,652, only slightly more (1.7%) than the same time last year ($847,928).  

Gisborne bucked the trend with a 23.2% increase year-on-year to enter the $800,000 bracket for the first time with an average asking price of $815,203. 

Six regions saw both year-on-year and month-on-month asking price growth in August: Bay of Plenty, Coromandel, Gisborne, Manawatu/Whanganui, Northland, and Taranaki. Just three saw month-on-month and year-on-year declines: Central North Island, Hawke’s Bay, and Otago, which slipped below $600,000 for the first time since December 2024.  

Wood says average asking prices say a lot about market confidence.  

“Nationally, prices are steady, but seeing regions like Gisborne hit an all-time high shows there’s still upward pressure in parts of the market. At the same time, Otago dropping out of the $600,000 bracket reminds us how localised movements can be. 

“A year ago, the OCR was at 5.25%, which kept borrowing costs high and buyers cautious. Fast forward to today, with the OCR at 3.0%, and the change is significant. Lower rates are giving buyers more confidence to act and are easing the pressure on homeowners. Combined with stable prices and more listings coming to market, these conditions create a window of opportunity for people ready to buy or sell.” 

30,000 homes on the market as stock levels remain steady nationwide

There was a nominal 1.4% year-on-year increase in total stock to 30,430 properties, up from 29,579 in August 2024. 

West Coast saw the greatest increase, up 17.0% from 266 properties in August 2024 to 311 in August this year. Gisborne also recorded strong activity, with an increase of 15.9% year-on-year. 

Southland experienced the greatest decline, with stock falling 20.9% year-on-year from 512 properties in August 2024 to 405 in August 2025. 

“We’ve seen stock levels hold steady nationally, but as this data shows, the real story is in the regions,” says Wood. “Stock levels have dropped year-on-year in 10 of our 19 regions. This shows momentum shifting, sellers are meeting the market, and buyers are acting with more confidence. 

“On the whole, with spring just around the corner, the data is telling us it’s an ideal time for buyers and sellers to put fresh energy into their property plans.

For media enquiries, please contact:

Hannah Franklin | hannah@realestate.co.nz

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