The New Zealand property market is showing signs of stability, with recent data pointing to an increase in sales and auction activity across the country.

According to the Real Estate Institute of New Zealand (REINZ), 6,287 properties sold nationwide in February 2025—a 3.4% increase compared to February 2024.

REINZ Acting Chief Executive Rowan Dixon says there’s reason for cautious optimism.

“Sales have increased nationally year-on-year, and activity is ramping up as we move out of summer,” Dixon says.

“Attendance at open homes remains strong, and auction numbers are comparable to those in February 2024.”

National sales rose 59.5% from January to February 2025.

Even after adjusting for seasonal trends, sales were up 12% on expectations.

Outside Auckland, sales lifted by 5.6% compared to the same time last year.

Regional highlights include Taranaki, up 20.6%, and the West Coast, up 22.2%.

Despite stronger sales, house prices were steady to slightly softer.

The national median price slipped 2.4% year-on-year to NZD 772,000.

Excluding Auckland, prices were down 1.4%, sitting at NZD 700,000.

However, six regions posted gains, with the West Coast climbing 16.3% and Southland up 9.2%.

February Property Market Snapshot

• Sales up 3.4% year-on-year
• National median price: NZD 772,000
• Listings down 3.6%
• Auctions: 1,163 sales (18.5%)

Listings fell slightly, down 3.6% year-on-year.

Inventory, however, rose 13.6%, offering buyers more choice.

Dixon notes that this can make house hunters feel less urgency. “If they miss out on one property, plenty of similar options are still available,” he says.

Auction activity also picked up.

February saw 1,163 properties sold under the hammer, representing 18.5% of all sales—an increase from January.

Homes are taking a little longer to sell, with the national median days to sell rising to 54.

For Coasties looking to buy or sell, this stable market may offer opportunities.

With vendors adjusting expectations and buyers having more choices, the current climate seems balanced.

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