October 2025 - The New Zealand Property Report
Latest data from realestate.co.nz shows that confidence has sprung back into the property market.
New listings were up 5.5% nationally on October last year, with increases seen in 15 of our 19 regions. The 12,209 new listings recorded were the highest for October since 2018, an indication that sellers are feeling more confident about putting their homes on the market.
Average asking prices, although stable nationally at $862,563 (a 1.1% year-on-year increase), increased notably in some regions: Gisborne recorded a 28.7% increase in average asking price compared to October last year, while the 18.9% year-on-year increase recorded by Central Otago/Lakes District means the region now commands an average asking price of more than $1.6million.
Vanessa Williams, spokesperson for realestate.co.nz says the activity seen throughout October suggests confidence is returning to the market.
“With an increase in listings hitting the market, plus a regional all-time asking price high like we’ve never seen before, there are early signals that a shift is beginning to take place. And, with asking prices remaining stable across the majority of our 19 regions, both buyers and sellers can enter the market feeling confident it will deliver a favourable result.”
New listings up at pre-COVID confidence levels
Gisborne and Coromandel were the standout regions contributing to the surge in new listings in October 2025, reporting a year-on-year increase of 22.8% and 20.6%, respectively. However, not all regions followed an upward trajectory. The West Coast saw the biggest decline with new listings down 16.7% from a year ago.
Williams says the total number of new listings coming onto the market suggests a return to pre-COVID levels of market confidence. “After a few years of caution, October’s strong activity is a promising sign of confidence returning to the market,” she says.
Average asking price remains stable, up 1.1% on October 2024
The national average asking price was up a marginal 1.1% year-on-year to $862,563 in October 2025. This stability continues to give both buyers and sellers relative security to make informed property decisions.
Bucking the trend, however, was Central Otago / Lakes District which recorded a new all-time high average property price of $1.65 million in October, making it the first region in New Zealand to cross the $1.6 million average mark.
Williams says this result is a strong indicator not only of the region’s strength but growing confidence in the property market overall. “This region is the most expensive in the country, so this record high could be an early signal of a strengthening market.”
Stock levels increase in eight regions across the motu
At 33,588, stock was up 3.9% on October 2024. Year-on-year, eight of 19 regions reported growth in stock levels. Auckland had the greatest increase, up 10.6% compared to October last year, followed by Wellington and West Coast, both up 8.9% year-on-year.
The largest decreases in stock last month were in Southland (down 11.8%), Otago (down 7.3%), and Manawatu/Whanganui (down 5.5%). Central Otago/Lakes District also recorded a year-on-year decline in stock of 5.5%.
“We are seeing increased activity on our site, which is a good sign that people are actively looking to make their next property move,” says Williams.
For media enquiries, please contact:
Hannah Franklin | hannah@realestate.co.nz
Want more property insights?
Find a glossary of terms here.