Property sales pick up as market confidence grows

Monday, 17 November 2025

As national property sales activity picks up, market confidence was rising along with it, Real Estate Institute of New Zealand October data shows.

And local salespeople across the country are noticing a growing positivity and activity.

New data showed property sales rose 6.4% year-on-year in October to 7505 transactions nationwide.

The market traditionally shows a rise in the lead up to Christmas.

The REINZ data said excluding Auckland, sales increased by 9.2% to 5200 and month-on-month activity also lifted, with national sales up 15.4%.

REINZ chief executive Lizzy Ryley said stabilising prices, improving sentiment and the usual spring lift had combined to produce a busier-than-expected October.

“The rise in market confidence, combined with the typical spring surge, has driven increased sales both year-on-year and month-on-month. Even after adjusting for seasonality, most regions show a positive shift,” she said.

“Salespeople across the country are reporting more activity, even if it arrived a little later in the season.”

She said this suggested October performed better than typically expected, given the usual shift from September to October.

Eleven regions recorded annual sales increases, led by Gisborne with the highest sale count increase - up 70.3% to 63 sales - the highest since February 2021. Canterbury and Nelson had their highest since March 2021 with 19.9% and 9.5% compared with last year.

The West Coast was up 51.7% to 44, and Taranaki up 26% to 184.

Median days to sell improved slightly, dropping to 41 days nationwide, and falling by 13 days in Southland.

Median prices remain broadly steady, easing 1.1% nationally to $786,000.

The biggest decline was Marlborough with a fall of 11.4% to a median price of $681,500.

Auckland’s median price climbed back above $1 million for the first time since March, rising 3.6% to $1,033,000.

“Median sales prices across the country have stayed fairly steady in recent months, and this month is no different, with a median price of $786,000. But in Auckland, prices have now topped $1 million for the first time since March 2025,” Ryley said.

The West Coast’s new record median is $460,000, while Queenstown Lakes hit a new territorial authority high of $1.59 million.

“It really shows that demand isn't just holding up, but actually lifting, especially in premium and regional areas.”

Wellington’s median price had dropped by 3.5% year-on-year to $767,500, while the median price for Canterbury increased by 1.4% year-on-year to $710,000.

New listings rose 5.5% year-on-year to 12,209, with inventory edging back above 33,000 nationally. First-home buyers remained a strong presence, encouraged by lower interest rates, easing lending criteria and more stable prices.

“First home buyers continue to be a dominant group across the country, taking advantage of lower interest rates and a stabilised market in terms of price, closely followed by owner-occupiers,” said Ryley.

“Salespeople are telling us that the warmer weather, lower interest rates, and easing lending criteria have brought more people back into the market and boosted activity in many regions, which we can see from the data.”

Auction activity also strengthened, with 1310 properties selling under the hammer — 17.5% of all sales. Auckland recorded 674 auction sales, making up nearly a third of its monthly transactions.