As we step into spring, it’s a good time to reflect on how the property market performed through the winter months and what this might mean for the season ahead.
Winter Recap: Resilience Despite Seasonal Slowdown
According to the Real Estate Institute of New Zealand (REINZ) data for July 2025, the property market showed steady resilience through the winter:
- Sales activity lifted: Transactions were up 4% nationally compared to July last year, with regions like Nelson (+43.6%), Bay of Plenty (+18.9%), and Northland (+10.5%) leading the way.
- Prices edged higher: The national median price rose 1.8% year-on-year to $767,250, with stronger gains outside Auckland (+3.9%). Auckland’s median increased 2.6% to $975,000.
- Regional strength: Nelson (+15.7%) and Otago (+11.1%) recorded standout price growth, showing that buyer demand remained firm despite winter conditions.
- Listings tightened: New listings dropped 4.2% compared to July 2024, with total stock down slightly to just over 30,000 properties for sale nationwide.
- Auctions held ground: 13.5% of all July sales were completed by auction, with the Bay of Plenty leading at nearly one in four.
- Days to sell improved slightly: The median time to sell fell by one day to 48, suggesting buyers were active but still measured in their decision-making.
Heading into spring, there is usually a lift in both new listings and buyer activity. With inventory slightly tighter than a year ago, motivated vendors could benefit from renewed competition as more buyers come out of winter hibernation.
“Spring is traditionally when confidence lifts, and this year the conditions are set for more activity. Last year we were talking about interest rate cuts, and now we have them, with more highly likely in the coming months. Homeowners who have been waiting can now confidently get ahead of the seasonal rush and take advantage of motivated buyers.” - Shaun Taylor, CEO Professionals NZ
Top 5 Things to Know About the Property Market This Spring
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Interest Rates Are Coming Down
The Reserve Bank’s easing cycle is underway, and mortgage rates are already starting to reflect this. Lower borrowing costs increase affordability and unlock more demand. As interest rates continue to decline, more buyers will return to the market, supporting stronger activity. -
Investor Yields Are Improving
With rental growth holding firm and interest costs easing, yields for property investors are on the rise. For the first time in years, the numbers are beginning to stack up again for landlords. Expect investors, particularly those focused on long-term wealth-building, to start re-entering the market as cashflow equations improve. -
Prices Are Expected to Remain Stable
After several years of volatility, most economists are forecasting stability rather than dramatic swings in property values. Nationally, prices are likely to track sideways over the next 12 months, with some regions seeing modest gains while others remain flat. This stability provides greater certainty for both buyers and sellers. - It’s Still a Buyer’s Market
Despite the lift in sales activity, the balance of power still rests with buyers. Days-to-sell remain relatively long, and many purchasers feel no urgency to rush their decision. This means buyers continue to hold the advantage when it comes to negotiation. Sellers who want results will need to meet the market on price and presentation. -
The First Step Is Getting an Appraisal
Whether you’re considering selling this spring or simply curious about your home’s value, the first step is to get a professional appraisal from your local real estate expert. This gives you an accurate picture of where your property sits in today’s market and helps you make informed decisions about timing and strategy.
Looking Ahead
Spring has historically been the most active season for real estate in New Zealand. This year, the backdrop is one of stable prices, slightly tighter stock, and resilient buyer demand. While not a runaway market, the momentum seen in July points to a more active and competitive environment in the months ahead.
For homeowners considering selling, the spring market presents a timely opportunity: more buyers, more activity. For buyers, do your homework early and be prepared, as choice may tighten in sought-after locations.
Thinking about selling this spring?
Contact your local Professionals salesperson for a free market appraisal and insights tailored to your area. Shaun says, "you can never underestimate the value of a local expert, our salespeople live and breathe their local market and are your best guide to the value of your home. With more visits to open homes, increased traffic on our website, and multi-offer situations becoming more common, now is the right time to act.”
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Shaun Taylor
CEO, Professionals Real Estate New Zealand
