Auckland property market steady for realistic vendors
Auckland’s residential property market continued its trend of solid sales in August, with prices holding steady over the past three months.
Recent global rankings show Auckland’s housing affordability has improved, now outside the world’s top 10 least affordable cities, thanks to more supply and changing housing types.
“The month’s trading was sound, without breaking out from the price boundaries we have been experiencing all winter,” said Peter Thompson (pictured), managing director of Barfoot & Thompson. “We sold 889 properties in the month, and while down 7.1% on last month, numbers were on par with sales in August for the past three years.”
Median and average prices show little change
The median price for August was $950,000, unchanged from July and consistent with the past three months.
“The average sales price at $1,081,032 fell 1.8% on that for July and has only moved within a 2% band for the past three months,” Thompson said.
“The Auckland market is trading well for vendors who are pricing their property in line with current market conditions as there is strong demand from buyers at current prices. Vendors holding out for prices to lift are missing out.”
Committed vendors see strong demand
“The Auckland market is trading well for vendors who are pricing their property in line with current market conditions as there is strong demand from buyers at current prices. Vendors holding out for prices to lift are missing out,” Thompson said.
“Other than during the peak years of 2020 and 2021, we are selling more houses this year than we did in any of the previous nine years.”
Sub-$1 million segment grows
A notable trend has been the growing share of sales under $1 million.
“The standout feature in August’s activity was the number of homes we sold for under $1 million,” Thompson said. “They made up 56%t of all sales in August and this highlights the growing attraction of lower cost town houses and apartments. Three years ago, sales in this price category made up 41% of sales.
“Sales of property in the over $2 million price category at 42 were their lowest for five months.”
Listings and rural sales in focus
New listings for August totaled 1,622, in line with the previous three months, and Barfoot & Thompson finished the month with 5,873 properties on their books.
“Rural and lifestyle property sales for the month at $50 million were their lowest for five months, and down 12% on those last month,” Thompson said.
Read the Barfoot & Thompson August 2025 Housing Market Update here.
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