The number of homes listed for sale across New Zealand, including on the Hibiscus Coast, continues to rise, with onsite property inventory hitting its highest point in more than a decade.

This is according to Trade Me Property’s latest Property Pulse report for February.

Total listings nationwide were up 12 per cent compared to the same time last year.

However, while more properties are available, the number of new listings in February was slightly lower than in February 2024.

Trade Me Property Customer Director Gavin Lloyd said, “It’s been a strong start to the new year. Sellers are returning to the market and pricing is relatively stable, making for an interesting landscape, whether you are on the sell side or buy side.”

The time it’s taking to sell homes is also trending downwards, which Lloyd says is a positive sign.

Inventory Changes Across Regions

• Otago: Listings up 25% year-on-year
• Southland, Wellington, and Canterbury: Listings up 19%
• National demand has reached a three-year high, up 8% on February 2024

For Coasties keeping an eye on property prices, the national average asking price in February was NZD 851,500.

That’s a 1 per cent increase from January but still 2.8 per cent lower than this time last year.

The annual drop equates to about NZD 24,000.

Despite a long period favouring buyers, the market appears to be shifting. “The modest increase in property prices from January is sure to be well received by those watching the market and considering selling,” Lloyd said.

Two regions stood out in February for seeing both month-on-month and year-on-year price growth:

• Bay of Plenty: NZD 902,650 average asking price
• Gisborne: NZD 666,500 average asking price

In contrast, Auckland, Wellington, and Canterbury all saw average prices dip compared to February 2024:

• Auckland: Down 2.5%
• Wellington: Down 2.9%
• Canterbury: Down 0.1%

Christchurch bucked the trend for mid-sized homes, recording a record high for three- to four-bedroom properties at NZD 787,150, up 1.5% year-on-year.

Wellington also saw surprising gains on its larger homes.

Five-bedroom properties there grew in value by more than 10 per cent over the past year.

This contrasts sharply with Auckland, where large homes dropped by as much as 21.5 per cent.

Gavin Lloyd summed it up, saying, “In Auckland, we’ve seen half a million dollars of value shaved off those larger properties over the past year.”

For Coasties thinking about buying or selling, the current market offers plenty of options and a stabilising price landscape. Buyers have more choice, while sellers are seeing renewed interest.

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