In a climate of global economic unpredictability, the New Zealand property market has shown notable resilience, according to the latest data from realestate.co.nz.
The April 2025 Property Report reveals a stable market with rising stock levels, steady prices, and strong buyer interest, offering opportunities for both buyers and sellers.
Sarah Wood, CEO of realestate.co.nz, says while external pressures such as US tariffs and employment uncertainty are affecting global markets, New Zealand’s property sector is holding firm.
“We’re in something of a holding pen at present. With global economic turmoil, US tariffs, and employment uncertainty, New Zealand is a bit stuck as we wait to see how these pressures play out,” she explains.
“But there’s a silver lining: today’s well-stocked and stable property market offers buyers and sellers time, choice, and flexibility.
“A fast market is stressful for buyers and sellers; a slower, stable market brings real positives. If you want to have certainty around your buying and selling price, now’s a great time to make your move.”
While global financial markets remain volatile, the national average asking price in New Zealand dipped just 1.7% year-on-year in April to $852,364*.
This figure remains within the narrow $850,000 to $890,000 band that has persisted for over two years.
“It’s been more than two years since the national average asking price was above $900,000. Over that time, prices have fluctuated by less than 6.0% within a tight $50,000 band. We are in a period of rare stability,” says Ms Wood.
Despite the flat national trend, several regions experienced notable growth. Gisborne saw a 17% rise to $724,168, followed by the Central North Island (up 12.6% to $779,099), Wairarapa (up 8.5% to $733,735), and Hawke’s Bay (up 8.1% to $778,039).
National stock levels increased by 6.2% compared to April 2024, continuing a trend of higher availability across the country. However, this rise in supply hasn’t yet translated into booming sales.
“There’s plenty of stock available, but we’re not seeing a boom in sales activity to move it through yet,” says Ms Wood.
According to data from the Real Estate Institute of New Zealand (REINZ), residential sales volumes grew steadily in the first quarter of 2025—from 3,774 in January, to 6,287 in February, and 7,640 in March.
Meanwhile, the transition to shorter days and cooler weather led to a seasonal drop in new listings. April saw a 29.2% decline in listings, falling from 12,029 in March to 8,518.
Compared to April 2024, new listings were also down 11.6%.
“New listings were down 11.6% compared to last year, but there is still strong interest across the market. We’re seeing the highest level of enquiries from buyers in three years. That’s a positive sign,” says Wood.
The most significant year-on-year stock increases occurred in Gisborne (up 75.0%, from 82 to 144 listings), Central Otago / Lakes District (up 28.2%), West Coast (up 28.0%), Otago (up 22.4%), Central North Island (up 19.6%), Canterbury (up 14.5%), Marlborough (up 11.0%), Wellington (up 10.8%), and Coromandel (up 10.3%).
Opportunities for both buyers and sellers
So is it a buyer’s or seller’s market? According to Wood, it’s both.
“My advice? Visit 50 properties before you buy. You need to know the market, know what’s selling, and know what buyers are paying, and right now, you have the time to do exactly that,” she says.
“This market also allows buyers to negotiate terms, like longer settlement periods, and complete thorough due diligence before making decisions.”
She notes that access to real-time suburb trends and recent sales data through realestate.co.nz’s insights page gives today’s buyers an edge.
On the selling side, Ms Wood emphasises that well-priced homes are still moving, and that selling in a stable market can actually benefit vendors.
“If you accept a slightly lower sale price than your original expectations, you’re also better positioned to negotiate sharply when you purchase your next property. It’s a two-sided opportunity,” she says.
*All prices in New Zealand Dollars
