Sentiment shifts as multi‑million buyers re‑enter Auckland
Auckland’s housing market is gaining momentum, with November posting the highest prices of 2025 and marking a clear return of top‑end buyers.
The median price rose 4.7% on October to $995,000, while the average price jumped 9.5% to $1,181,829. Peter Thompson, managing director of Barfoot & Thompson, said these were “the largest monthly increases we have seen this year” and ended a four‑month period of little price movement.
“While sales activity and prices invariably increase modestly in November as we head into the Christmas and New Year break, this year’s increase was based on a change in sentiment as to future market direction," said Thompson.
“The improved prices led to a subtle shift from it being a total buyers’ market, with buyers sensing that now might be the time to act.”
This comes as buyer conditions across New Zealand remain unusually favourable – with more listings, higher stock, steady prices and a much lower OCR – even though many people are still “waiting for a perfect moment” to act.
Million‑dollar bracket drives sales lift
Barfoot & Thompson recorded 969 sales in November, up 4.2% on October and 2% above the average of the previous three months.
A standout was renewed demand in the $2m–$3m range. The agency sold 71 homes in this bracket, more than double October’s total, plus 21 homes above $3 million.
Lower‑priced stock remained active but took a smaller share: properties under $750,000 made up 22% of sales, versus an average of 26% over the prior three months.
“Participation in the housing market by buyers in the top end of the market has been quiet for many months but they are now starting to return,” Thompson said.
Listings steady, rural and lifestyle lift
New listings held up at 1,867, while Barfoot & Thompson’s month‑end stock edged 1.3% higher to 6,102, keeping choice reasonable even as demand improves.
Rural and lifestyle sales also strengthened, with November turnover of $49 million, up 28% on October.
For more details, read the Barfoot & Thompson November 2025 Housing Market update.Stay informed with the latest housing market trends and mortgage insights — subscribe to our free daily newsletter.
