The New Zealand residential property auction market saw a notable shift from April 14 to April 20, 2025, with a decline in the number of auctions listed nationwide. This week, only 365 auctions were listed, which is 187 fewer than the previous week. Despite this drop, the national auction success rate slightly improved to 34.0%.
In Auckland, the auction market remained active with 239 auctions, though this was a decrease of 105 from the previous week. The region's success rate increased by 2.2 percentage points to 33.0%, yet the median sale price fell by 10.6% to $1,200,000. This indicates a potential cooling in one of the country's most dynamic property markets.
Bay of Plenty stood out with a significant increase in the median sale price, soaring by 59.1% to $1,370,000. This was accompanied by a notable rise in the auction success rate, reaching 42.9%, up 16.5 percentage points. The region's performance contrasts sharply with the overall national trend and suggests strong demand in the area.
Canterbury also showed a positive trend with an increase in auctions and a 9.0 percentage point rise in the success rate to 43.2%. However, the median sale price dropped by 23.0% to $745,000, indicating that while more properties are selling, they may be at lower price points.
Wellington's auction market experienced a significant improvement in success rate, climbing 46.4 percentage points to 71.4%. Yet, like many regions, the median sale price decreased by 8.8% to $780,000. This suggests that while more properties are being sold, buyers may be negotiating lower prices.
In summary, the past week in New Zealand's residential property auction market was marked by a reduction in auction volumes and generally lower median sale prices. However, regions like Bay of Plenty and Wellington bucked this trend with higher success rates and notable price dynamics, reflecting varied regional performances across the country.
New Zealand Auction Market Overview - 14 April to 20 April
Key nationwide statistics for the past week, with week-over-week (WoW) comparison:
- Total Auctions Listed: 365 (-187 WoW)
- Auctions Sold: 124
- Success Rate: 34.0% (+0.8pp WoW)
- Median Sale Price: $1,068,000 (-1.6% WoW)
- Average Sale Price: $1,182,060
- Price Range (Sold): $92,000 - $4,905,000
Regional Snapshot
| Region | Auctions Listed | Δ WoW | Success Rate | Δ WoW (pp) | Median Price | Δ WoW (%) |
|---|---|---|---|---|---|---|
| Auckland | 239 | -105 | 33.0% | +2.2pp | $1,200,000 | -10.6% |
| Bay of Plenty | 14 | -5 | 42.9% | +16.5pp | $1,370,000 | +59.1% |
| Canterbury | 44 | +3 | 43.2% | +9.0pp | $745,000 | -23.0% |
| Gisborne | 0 | -28 | 0.0% | -53.6pp | N/A | N/A |
| Hawke's Bay | 0 | 0 | 0.0% | 0.0pp | N/A | N/A |
| Manawatū-Whanganui | 4 | +2 | 25.0% | -25.0pp | $310,000 | -46.6% |
| Marlborough | 0 | -2 | 0.0% | -50.0pp | N/A | N/A |
| Nelson | 2 | +2 | 0.0% | 0.0pp | N/A | N/A |
| Northland | 13 | -21 | 38.5% | +9.1pp | $730,000 | -29.4% |
| Otago | 10 | -14 | 20.0% | -21.7pp | $685,000 | -51.4% |
| Southland | 0 | -2 | 0.0% | -100.0pp | N/A | N/A |
| Taranaki | 1 | 0 | 0.0% | 0.0pp | N/A | N/A |
| Tasman | 0 | 0 | 0.0% | 0.0pp | N/A | N/A |
| Waikato | 31 | 0 | 22.6% | -16.1pp | $800,000 | -19.0% |
| Wellington | 7 | -5 | 71.4% | +46.4pp | $780,000 | -8.8% |
| West Coast | 0 | 0 | 0.0% | 0.0pp | N/A | N/A |
(Note: WoW = Week-over-Week change. All figures based on available data. Success rates/prices based on sold auctions.)