Remember when finding a house to buy was like trying to score a PlayStation 5 at launch? Those days are long gone.

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2024 was a busy year for sellers.

$115 billion worth of properties were listed for sale – that’s an extra $18.86B (up 19.4%) compared to 2023.

But wait – after December hit record lows for new listings (classic holiday slump), January said, “hold my beer” and dropped nearly 9,000 new properties on the market.

We haven’t seen numbers like that since 2015.

Spicy regional highlights

  • West Coast: Doubled their listings (up 100%) to 70 properties
  • Otago: Flexing with a 52.4% increase (352 new listings)
  • Gisborne: Not sleeping on the action with a 45.7% jump (51 new listings)

Auckland breaks records (again)

Auckland made history with 11,465 properties up for grabs – the highest inventory since January 2012. That’s more choices than a Netflix homepage.

No wonder the national average asking price is chilling at $868,969 (down 1.3% year-on-year). Though, in a sign of uncertain times, perhaps, asking prices in certain areas are moving in the other direction:

  • West Coast: Up 6.3% to $505,151 (affordable paradise, anyone?)
  • Auckland, Hawke’s Bay, Nelson, and Southland: All showing growth both monthly and yearly

On the flipside

  • Coromandel: Down 20.3% to $1,004,312 (still millionaire territory, though)
  • Waikato, Wairarapa, and Wellington: Also seeing some dips

Why this matters to property investors

Realestate.co.nz CEO Sarah Wood calls it like it is: We’re looking at a buyer’s market with “lots of choice” and “relative price stability.” Translation? Perfect conditions for smart investors:

  1. More inventory = More negotiating power
  2. Stable prices = Less FOMO-driven decisions
  3. Falling interest rates = Better financing options

2024 was what industry pros called the “perfect market”. With prices holding steady and inventory up across ALL regions, 2025 is starting strong for anyone looking to expand their portfolio.

But keep an eye on regional variations. While Wellington’s crushing it with new listings (up 37.3% in 2024), each region has its own story.

Call 0800 GOODWINS to talk about where the smart money’s moving.