Coasties keeping an eye on the property market will notice things are starting to move again—at least when it comes to sales.

New national figures released by the Real Estate Institute of New Zealand (REINZ) show a 12.8% increase in sales compared to March 2024.

That’s 7,640 properties changing hands nationwide, up from 6,774 this time last year.

The trend is even stronger outside Auckland, with sales rising 14.2% year-on-year.

Buyers are especially active in the Tasman and West Coast regions, which saw jumps of 48.6% and 23.6% respectively.

Acting REINZ Chief Executive Rowan Dixon says the market remains resilient despite cooler weather and softer prices.

“There’s been strong attendance at open homes and auctions, and even when a property doesn’t sell under the hammer, there’s plenty of post-auction interest,” she says.

House prices, however, remain subdued.

The national median dropped 1.4% to $790,000 compared to March 2024.

Excluding Auckland, the median slipped 2.1% to $700,000.

Six regions, including the West Coast (+11.5%), saw price increases.

But places like Nelson saw sharp drops—down 11.4% to $640,000.

Listings are also up.

Nationally, new listings increased 5.0% year-on-year, with inventory levels rising 10.9%.

It’s a mix of good news for buyers and sellers alike.

Buyers have more choice, while sellers are seeing renewed interest as interest rates edge lower.

Locals heading to auctions might note a slight dip in popularity—just under 16% of all March sales were via auction.

Properties are also taking longer to sell, with the median days to sell rising to 41, up three days on last year.

REINZ’s House Price Index (HPI), which reflects changing market value, was down 0.7% year-on-year.

With interest rates easing and inventory climbing, the next few months may offer Coasties a more stable market to buy or sell in.

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