Where are property values now?
Atom Go Tian Senior Data Analyst Ray White Group
New Zealand’ s housing market held steady this June, as the national median house price edged up slightly to $ 770,000 – barely changed from May’ s $ 766,000. It’ s the latest sign of what has become a defining feature of 2024: a remarkably stable market, with prices hovering in a narrow $ 750,000- $ 801,000 band since early 2024.
WINTER OF PAUSE, NOT PUSH
Historically, June is one of the calmest months for house prices, and 2025 was no exception. Monthly shifts tend to sit within a tight range of-0.5 per cent to + 0.5 per cent, with only outliers like the pandemic-fuelled spike in 202 breaking the pattern. This year followed the usual rhythm: as winter set in, market activity cooled sharply.
Sales dropped 20 per cent month-on-month to 5,865 transactions, and new listings fell 19 per cent to 7,277. Despite a lower level of monthly activity, prices held firm, a sign of a balanced market where both buyers and sellers have the luxury of time.
For homeowners, this means less urgency but greater predictability. For professionals, it’ s a reminder that the current market is stable, but also highly sensitive to localised conditions.
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