Market momentum builds as sales rise and days to sell drop
Source: Real Estate Institute of New Zealand (REINZ) media release from the 14th of October 2025.
A wave of new data from the Real Estate Institute of New Zealand (REINZ) points to growing momentum in the residential property market. With national sales counts up, fewer days to sell, and record-breaking prices in multiple regions, signs of renewed buyer confidence are beginning to show as spring activity heats up.
Sales activity on the rise
National property sales increased by 3.1% year-on-year in September, reaching 6,346 total sales. Excluding Auckland, the increase was even higher at 7.5%, totalling 4,421 sales. Eleven regions experienced year-on-year sales growth, with standout increases in:
West Coast: up 56.0% (39 sales)
Marlborough: up 37.1% (85 sales)
Nelson: up 32.0% (66 sales)
Despite a strong headline performance, seasonally adjusted data shows a 2.5% national month-on-month decline, indicating a slight softening when accounting for seasonal patterns.
Selling times shorten nationwide
The national median days to sell dropped to 43 days, down from 49 this time last year. The same trend was mirrored outside of Auckland. Notable regional movements include:
Nelson: down 19 days (from 51 to 32)
West Coast: up 45 days (from 31 to 76)
“This month’s higher sales counts contributed to a six-day reduction in the national median days to sell,” says REINZ Chief Executive Lizzy Ryley. “However, some regions, like the West Coast, saw longer selling times due to the clearing of long-listed stock.”
Median prices ease, but records still set
The national median price fell 1.5% year-on-year, to $770,000. Excluding Auckland, the median slipped 0.7% to $690,000. However, not all regions followed suit. Ten out of sixteen reported year-on-year median price increases, with record highs in:
West Coast: $447,000 (up 14.6%)
Southland: $525,000 (up 7.8%)
“This is the first time since January that we’ve seen record regional median prices and the first time in over three years that two or more regions have reached new highs,” says Ryley.
Regional highlights
Auckland: Median price up 0.8% to $978,000
North Shore City (Auckland): up 4.5%
Porirua City (Wellington): up 16.4%
New records: Buller, Grey, Invercargill, and Waimakariri Districts
Listings and inventory growing
New listings nationwide rose 1.3% to 9,394
Excluding Auckland: listings up 1.7% to 6,068
Inventory levels: now at 30,721 properties, a 2.3% year-on-year increase
Auckland and Wellington have each recorded 20 consecutive months of inventory growth, while the West Coast has seen 16 straight months of rising inventory.
Auctions and buyer behaviour
Auction activity is gaining traction, especially in Auckland:
Total national auctions: 889 (14.0% of sales)
Auckland: 454 auctions (23.6% of all sales), up year-on-year and month-on-month
First-home buyers and owner-occupiers remain the most active participants in the current market.
House price index signals modest growth
The REINZ House Price Index (HPI) rose to 3,606, showing:
Year-on-year growth: +0.2%
Month-on-month growth: +0.8%
5-year average annual growth: 2.8%
Southland led the HPI gains with a 5.7% year-on-year increase, followed by Canterbury (2.8%) and Otago (2.5%).
Looking ahead: Confidence builds into spring
“Salespeople are cautiously optimistic that activity will continue to strengthen through spring and into summer,” says Ryley. “With the recent 50 basis point drop in the OCR and improving buyer sentiment, we may see continued upward momentum.”
Looking Ahead: Confidence Builds into Spring
“Salespeople are cautiously optimistic that activity will continue to strengthen through spring and into summer,” says Ryley. “With the recent 50 basis point drop in the OCR and improving buyer sentiment, we may see continued upward momentum.”
For more detailed insights and regional breakdowns, visit:
