New data from the Real Estate Institute of New Zealand (REINZ) show the national median house price dipped slightly in August, but most regions recorded year-on-year gains as more properties hit the market.

The median price across New Zealand fell $4,000, or 0.5%, to $761,000 compared with August 2024.

Excluding Auckland, the median rose 1.5% to $690,000.

Auckland itself was up 1.3% to $964,000.

Gisborne led regional increases with an 11.3% jump to $690,000, followed by Southland (up 8.9% to $465,000) and the West Coast (up 7.8% to $385,000).

Sales activity was subdued.

Nationally, transactions dropped 3.7% year-on-year to 5,866, with only six regions seeing more sales than last August.

Waikato, Gisborne and Southland were the standouts.

Listings, on the other hand, climbed 9% nationwide, taking total inventory to 30,000 properties.

REINZ Chief Executive Lizzy Ryley said both buyers and sellers are cautious as spring approaches.

“While many expected the recent OCR change to encourage more activity, the history of REINZ data suggests we may be cautiously optimistic about increased activity in the coming months.”

For the Hibiscus Coast, steadier prices mean buyers still face hefty mortgages, but a bigger pool of listings could offer more choice heading into the spring selling season.

With Auckland’s market holding firm, Coasties weighing up a move may find it easier to shop around without prices racing ahead.

Know something local worth sharing?

Send it to [email protected] — we’ll help spread the word.