Regional records highlight shift toward affordable lifestyle markets
New Trade Me Property figures show New Zealand’s housing market starting 2026 with renewed energy, as Auckland prices climb back over the million‑dollar mark and buyer interest surges across the regions.
The national average asking price rebounded to $857,000 in January, up 7% on December and flat year‑on‑year. Auckland has also reclaimed its position as the country’s most expensive region after briefly being overtaken by Bay of Plenty late last year. Auckland’s average asking price jumped more than 9% month‑on‑month to $1,040,150.
At the same time, REINZ data shows new listings up 14% year-on-year and available stock at a three-year high, giving buyers more choice even as borrowing costs stay elevated.
Auckland–Bay of Plenty paths diverge
Trade Me Property customer director Gavin Lloyd (pictured) said the contrast between Auckland and Bay of Plenty remains important for buyers and sellers to watch.
“In Auckland, we’ve seen a solid bump on the average asking price from December, however prices remain 3.5% behind where they were in January 2025. In the Bay of Plenty we see the opposite, with prices flat (-0.5%) month-on-month but up more than 4% year-on-year,” Lloyd said.
“As we’ve said in previous months, it’s worth keeping an eye on both regions, particularly given the make-up of housing in each market. In Auckland, we’ve been seeing an increase in properties under $800,000, the typical first-home buyer bracket, and a surge in the luxury market in Bay of Plenty with a higher percentage of properties over the $2 million mark.”
Outside Bay of Plenty, only Nelson/Tasman (-0.4%), Marlborough (-0.2%), and Northland (-2.6%) recorded monthly falls in asking prices.
Search activity spikes as buyers return from holidays
Lloyd said market sentiment has clearly lifted since the summer break.
“Our search activity is up 40% on December and 23% year-on-year which suggests motivated buyers have returned to the market and there’s a solid buyer appetite out there,” Lloyd said.
Wellington led the month‑on‑month surge in searches, up 58% (+19% year‑on‑year), followed by Auckland, up 45% (+19% year‑on‑year), and Canterbury, where search interest jumped 43% (+28% year‑on‑year). Supply has also bounced from December but remains 8% below January 2025.
Regional records in the South and East
The West Coast and Southland opened 2026 with record average asking prices. The West Coast hit $518,400, up 11% on December and 5% year‑on‑year, while Southland reached $563,000, also 11% higher month‑on‑month and 2% above a year ago.
“It’s fantastic to see strong performance across both regions, which each offer a lifestyle and level of affordability that is becoming increasingly attractive to a wide range of buyers, from first-home hunters to those looking for a change of pace,” Lloyd said.
Gisborne also set a fresh record, with the average asking price rising to $737,300 in January, more than 9% higher than a year ago and 59% above December. Lloyd noted that because Gisborne is a smaller market with lower listing volumes, prices can move more sharply than in the main centres.
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