Auckland house price average falls below $1m for first time in nearly a year, Trade Me report says

Thursday, 7 August 2025

The national average property price has dipped, with it falling below the $1m mark in Auckland too.

Auckland’s average house price has fallen below $1 million for the first time in nearly a year - and it may stay there longer than expected, according to Trade Me’s latest Property Pulse Report.

The July figures show the average asking price in the city dropped to $989,250, down nearly $17,000, or 1.7%, from June. It’s the lowest average since September 2024, and a sharp drop from the March figure of $1,057,300.

Trade Me Property Customer Director Gavin Lloyd said this year’s dip is notable not just for the price drop, but for its timing.

“This dip has occurred earlier than last year, suggesting that we may see a more prolonged period of prices below the million-dollar threshold in 2025,” he said.

Auckland’s house price average is predicted to remain under $1m for some time.

“Last year, prices remained under $1 million for two months, and we anticipate this year’s trend could last a little longer, offering a unique opportunity for buyers.”

Nationally, the average asking price also dipped slightly to $821,750, a 1% drop on June, while the number of listings remained stable and buyer demand edged up 3%.

The biggest fall in average price was in Marlborough, down 6.2% to $668,450. The average price was up in Southland though, gaining 5.3% to $520,250.

We spoke to seven mortgage advisers to get their top tips for first time buyers.

“The current market dynamic is a golden opportunity for buyers,” Lloyd said.

“With prices moderating and a good selection of homes available, buyers have the time to conduct their due diligence and make a confident, well-informed purchase.”