New property listings at levels not seen in a decade in January
Monday, 3 February 2025
New property listings in New Zealand reached levels not seen in January since 2015.
Housing stock in Auckland was highest since January 2012 with 11,465 properties available.
National average asking price remained relatively stable at $868,969, down 1.3% year-on-year.
It’s a buyers market as new property listings reach levels not seen in January since 2015.
The latest data from Realestate.co.nz showed that after a record low of new listings for any December, sellers started the year strong by leaping into the market in January.
Realestate.co.nz chief executive Sarah Wood said the market continued to offer strong opportunities for those wanting to buy and sell.
“Lots of choice, combined with relative price stability, offers certainty for both buyers and sellers. And as interest rates decline, the market may become more appealing for those on the sidelines.”
New listings had returned to levels not seen during January since 2015 as nearly 9000 new listings came onto the market last month.
This was a significant increase from December and was up 21.2% year-on-year.
“The country seems to take a collective holiday during January, and over the past few years, sellers have appeared to do the same. This is the first time new listings have been around 9000 in the month of January since 2015.”
Year-on-year, the largest increases in new listings were in West Coast, up 100% to 70 listings, Otago up 52.4% to 352 new listings and Gisborne up 45.7% to 51 new listings.
Stock levels remained high during January, up 18.9% nationally year-on-year to 32,412 properties.
Auckland experienced the highest stock level since January 2012 with 11,465 properties available for sale last month.
“We haven’t seen this level of housing stock in Auckland for more than a decade,” Wood said.
The national average asking price had sat between $840,000 and $890,000 for the past two years, and the start of 2025 saw this trend continue, with January’s national average asking price at $868,969.
This was down just 1.3% year-on-year. The biggest increase was in West Coast, up 6.3% year-on-year to $505,151, while Coromandel saw the biggest decline, down 20.3% year-on-year to $1,004,312.
Four regions – Auckland, Hawke’s Bay, Nelson, and Southland – saw prices grow both month-on-month and year-on-year, while Coromandel, Waikato, Wairarapa, and Wellington recorded declines.