Stronger sales, steady prices and rising buyer momentum
Market confidence is climbing across New Zealand, with new REINZ data showing stronger sales activity, improved sentiment, and early signs of renewed momentum heading into summer.
Sales lift across most regions
National residential sales rose 6.4% year-on-year to 7,505, while activity outside Auckland increased 9.2% to 5,200. Month-on-month, sales climbed 15.4% nationally, signalling stronger-than-usual spring activity.
Eleven regions recorded annual increases, led by:
- Gisborne: up 70.3%
- West Coast: up 51.7%
- Taranaki: up 26.0%
REINZ Chief Executive Lizzy Ryley (pictured) says the boost in confidence is meaningful.
“The rise in market confidence, combined with the typical spring surge, has driven increased sales both year-on-year and month-on-month… most regions show a positive shift, indicating that October performed better than expected,” Ryley said.
Days to sell improves in several markets
The national median days to sell fell by one day to 41, with the measure excluding Auckland dropping two days to 41.
- Southland: down 13 days (44 → 31)
- West Coast: up 23 days (24 → 47)
Many regions recorded their lowest October days to sell since 2021.
Median prices steady overall, with notable regional highs
New Zealand’s median price eased 1.1% year-on-year to $786,000, while the median excluding Auckland rose 0.6% to $710,000.
Key gains include:
- Auckland: back above $1 million — up 3.6% to $1,033,000
- West Coast: all-time median high — up 17.9% to $460,000
- Queenstown Lakes: TA record $1.59 million
Ryley says price stability is supporting buyer confidence.
“Median sales prices across the country have stayed fairly steady… But in Auckland, prices have now topped $1 million… Meanwhile, the West Coast has hit another record median price, and Queenstown Lakes' median is now over $1.5 million.”
Listings and inventory lift as buyers re-enter the market
New listings rose 5.5% year-on-year to 12,209, while listings excluding Auckland climbed 4.2%. Inventory increased 3.9% to 33,588.
First-home buyers remain the most active buyer group. "The warmer weather, lower interest rates, and easing lending criteria have brought more people back into the market,” Ryley said.
This national trend is also reflected in Cotality–Westpac data, which shows first-home buyers now accounting for a record 27.7% of all purchases as lower rates and improving affordability boost activity.
Auctions strengthen as competition increases
Auction sales reached 1,310, representing 17.5% of all transactions.
Auckland led with 674 auction sales — 29.2% of regional activity.
HPI shows modest growth with new regional peaks
New Zealand’s House Price Index (HPI) rose to 3,627, up:
- 0.3% year-on-year
- 0.6% month-on-month
Two regions hit new highs:
- Otago: 4,209
- Southland: 4,959
Southland also recorded the strongest annual HPI growth at 7.4%.
QV’s latest data also reinforces Southland’s strength, with Invercargill values rising 2.7% in the quarter and the wider region supported by strong local economies, affordability, and steady buyer demand — helping southern markets outperform much of the country.
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