Average asking price falls for second time in 2025
Property prices across New Zealand dropped for the second time this year, according to Trade Me’s latest Property Pulse Report.
The average asking price in April was $855,150, down 0.8% from March and 2.6% year-on-year.
Trade Me Property customer director Gavin Lloyd (pictured) attributed the downturn to seasonal factors.
“Historically, as we move into the colder months of the year we see a dip in buyer activity, and this is reflected in the most recent data,” Lloyd said. “House hunting is a lot more appealing when the sun is shining and properties look and feel their best.”
Listings stay longer on market as buyer interest slows
The Trade Me report showed that the average time properties spent on site increased from 56 days in March to 62 days in April—though still well below the 85-day average recorded in January.
“The rule of thumb is that the longer properties spend on the market, the more sellers need to adjust their expectations, particularly when it comes to price,” Lloyd said. “This is especially true in a market where there’s plenty of supply to choose from.”
Auckland sees biggest monthly drop since August
In Auckland, which had shown momentum in April, property prices recorded a 1% month-on-month fall—the largest decline in eight months. Year-on-year, prices in the city dropped 3.2%.
“Property prices in Auckland have been consistently inconsistent in recent months. In March we saw the average asking price reach a 10-month high, and for April prices recorded the largest fall since August 2024,” Lloyd said.
“After dipping below the million-dollar average last August, many will be keeping a watchful eye on the city of sails as to how things play out as we move closer to winter.”
Listings and buyer demand both decline
Trade Me also reported a 4% drop in property listings between March and April, after hitting a decade high the previous month. Buyer demand fell 13% over the same period.
“Of the 15 regions we monitor at Trade Me Property, each one recorded a decline in supply from the month prior with the biggest drops recorded on the West Coast (-7%), Nelson/Tasman (-7%), Canterbury, Gisborne and Taranaki all down 6% respectively,” Lloyd said.
Buyers still in strong position despite easing supply
Despite the monthly decline, Lloyd noted that the total number of listings remains elevated compared to the previous year.
“To give some perspective, we had several thousand more properties listed onsite in April of this year compared to April 2024,” Lloyd said. “That means buyers continue to have plenty of leverage and to secure a sale, vendors are going to need to meet the market, particularly in regards to realistic price expectations.”
