For the week ending April 6, 2025, the New Zealand residential property auction market exhibited some intriguing regional dynamics. While the overall national success rate saw a slight decline to 33.4%, the story was quite different in various parts of the country.
Auckland, the largest auction market, saw its median sale price rise by 3.1% to $1,202,500 despite a small decrease in the success rate. This indicates a demand for higher-value properties or competitive bidding among buyers, particularly in the city. However, the number of auctions dropped by 20, which may reflect cautious seller sentiment.
In Wellington, there was a notable surge in the median sale price, climbing 26.8% to $1,014,000. This sharp increase contrasts with the relatively small rise in auction numbers, suggesting heightened competition amongst buyers for available properties. The capital’s success rate also improved significantly by 21.1 percentage points, highlighting a more vibrant market.
Canterbury also stood out with a 13.7 percentage point increase in the success rate, reaching 51.2%. However, the median sale price fell by 17.6% to $834,000, indicating potential interest in more affordable housing options. This trend could be appealing to buyers seeking value for money in the region.
The Bay of Plenty experienced a mixed week. The number of auctions significantly increased, yet only 11.1% resulted in sales. Nonetheless, the median sale price jumped by 17.6% to $1,087,500, pointing to a focus on higher-priced properties despite lower overall success.
In conclusion, while the national auction market saw a slight dip in activity, specific regions like Wellington and Canterbury demonstrated unique trends with rising prices and improved success rates. These regional variations reflect the diverse nature of New Zealand's property market, shaped by local demand and economic conditions.
New Zealand Auction Market Overview - 31 March to 6 April
Key nationwide statistics for the past week, with week-over-week (WoW) comparison:
- Total Auctions Listed: 464 (-51 WoW)
- Auctions Sold: 155
- Success Rate: 33.4% (-0.6pp WoW)
- Median Sale Price: $1,080,000 (-1.9% WoW)
- Average Sale Price: $1,236,061
- Price Range (Sold): $12,400 - $5,900,000
Regional Snapshot
| Region | Auctions Listed | Δ WoW | Success Rate | Δ WoW (pp) | Median Price | Δ WoW (%) |
|---|---|---|---|---|---|---|
| Auckland | 326 | -20 | 32.5% | -3.0pp | $1,202,500 | +3.1% |
| Bay of Plenty | 18 | +9 | 11.1% | 0.0pp | $1,087,500 | +17.6% |
| Canterbury | 43 | -21 | 51.2% | +13.7pp | $834,000 | -17.6% |
| Gisborne | 0 | -8 | 0.0% | -37.5pp | N/A | N/A |
| Hawke's Bay | 0 | 0 | 0.0% | 0.0pp | N/A | N/A |
| Manawatū-Whanganui | 1 | -1 | 100.0% | +100.0pp | $127,000 | N/A |
| Marlborough | 1 | +1 | 0.0% | 0.0pp | N/A | N/A |
| Northland | 8 | -22 | 37.5% | -2.5pp | $650,000 | -6.8% |
| Otago | 11 | +8 | 36.4% | -63.6pp | $1,053,000 | -4.3% |
| Southland | 0 | 0 | 0.0% | 0.0pp | N/A | N/A |
| Taranaki | 0 | 0 | 0.0% | 0.0pp | N/A | N/A |
| Tasman | 0 | 0 | 0.0% | 0.0pp | N/A | N/A |
| Waikato | 38 | +15 | 23.7% | +10.6pp | $767,500 | -51.0% |
| Wellington | 13 | +1 | 46.1% | +21.1pp | $1,014,000 | +26.8% |
| 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.)