Auckland Property Market Update – May 2025

As we move into the heart of winter, there’s a quiet buzz building in the Auckland property market. A recent cut to the Official Cash Rate (OCR) has helped boost buyer confidence, and we’re seeing encouraging signs of activity across both agency-reported and national data. While buyers are still measured, the numbers show a growing sense of cautious optimism—and opportunity.

Here’s what the latest data tells us:

Auckland Market Snapshot – REINZ Data

The Real Estate Institute of New Zealand (REINZ) paints a complementary picture, showing that while activity is picking up, buyer decision-making remains deliberate.

• Median sale price: $975,000 – down 3.5% year-on-year

• Sales volume: 2,052 properties sold – up 1.3% from 2,026 in May 2024

• New listings: 3,654 – down 1.3% from 3,702 last year

• Median days to sell: 47 days, up from 43 in May 2024

• Auction sales: 441 properties, accounting for 21.5% of Auckland’s total sales

REINZ House Price Index:

Auckland HPI checked into May with a decrease of 0.4% year on year - reaffirming the flattish market that has been the story for much of the past two years. Over the last 5 years, the House Price Index has grown 2.2% YoY (compounded) for Auckland.

The REINZ HPI is an indexed tool developed in conjunction with the Reserve Bank of New Zealand to have a clearer picture of the housing market. It measures the changing value of residential property in New Zealand, adjusting for differences in property type and location. Unlike median or average prices, the HPI gives a more accurate view of true market trends by tracking how much “like-for-like” homes are increasing or decreasing in value over time.

Auckland Market Snapshot – Barfoot & Thompson Data

As Auckland’s largest real estate agency, and selling nearly 1 in 3 homes in Auckland, Barfoot & Thompson’s data offers valuable insight into what’s happening across the region in real time.

Barfoot & Thompson reported their highest May sales in four years, with buyer momentum clearly on the rise.

• 1,072 properties sold – up 27.3% from April

• Third consecutive month of post-2021 record-breaking sales volumes

• Median sale price: $928,500

• Average sale price: $1,085,751

• 1,855 new listings – the highest May figure in nine years

• 6,083 properties on the books – double the volume seen during the 2021 market peak

• 30% of all sales were under $750,000, thanks to an increase in apartment-style homes

• High-end segment remained active with strong performance in the $2M+ bracket

• Rural/lifestyle sales across greater Auckland regions reached $80 million – the highest for 2025 so far

Barfoot & Thompson's data shows a market that’s not only active but also offering value—particularly for first-home buyers and those looking to trade up in a stable price environment.

Spotlight on the North Shore – Local Momentum Builds

While Auckland's overall numbers are promising, zooming in on the North Shore gives us even more reason to feel optimistic. May 2025 saw a clear uptick in sales activity across the Shore, with numbers outpacing the same time last year and strong engagement from buyers across price brackets.

Key North Shore Stats – May 2025:

• Number of Sales: 325 sales, up around 16% year-on-year

• Median Sale Price: $1,175,000, a modest 4.5% dip compared to May 2024

• Median Days to Sell: 48 days, unchanged from this time last year

After a quiet January, sales volumes have rebounded strongly—peaking in March and remaining elevated through autumn. What’s encouraging is that this activity is happening even as prices remain steady-to-soft, suggesting buyers are responding to value rather than urgency.

The slight easing in median price can be seen as an adjustment rather than a decline—bringing

greater accessibility for buyers while still maintaining healthy values for sellers. This is particularly true in segments like townhouses and renovated family homes, where demand remains resilient.

Time on market has stayed consistent at 48 days, pointing to a stable pace where well-presented and well-priced homes are attracting committed interest.

The Big Picture: Opportunity with Balance

Across the board—from Barfoot’s high sales numbers to REINZ’s balanced Auckland data and the North Shore’s local uplift—the message is clear: buyers are back, but they’re smart and selective.

For sellers, this presents a golden window. With plenty of stock still on the market but strong buyer activity returning, positioning your property correctly could mean standing out in a crowd—before the traditional spring surge kicks in.

Let’s Talk About Your Property Plans

Curious about what your home might be worth today? Thinking of upsizing, downsizing, or investing?

Click below to book a free, no-obligation appraisal — and let’s make home dreams happen.

Get An Appraisal

Stay warm,

Nish