Home Listings Reach Decade High as Supply Surges in December

The housing market in New Zealand experienced a significant increase in available properties as December 2025 saw a record high for listings, surpassing 30,000 for the first time in a decade. According to data from realestate.co.nz, the total number of properties for sale reached 30,390, marking a 3.1 percent year-on-year rise. This surge in inventory reflects a year-long trend of consistent supply, with over 30,000 homes on the market each month throughout 2025.

Several regions led this upward trend, with Northland reporting an impressive growth of 11.4 percent and Auckland close behind at 11.0 percent. Vanessa Williams, a spokesperson for realestate.co.nz, noted that while the holiday season typically sees a slowdown in listings, nine of the 19 regions registered increases compared to December 2024.

“This lift in stock to a 10-year December high suggests that while sellers are feeling confident heading into 2026, buyers are being more considered and benefiting from greater choice,” Williams remarked.

Despite December traditionally being a quieter month for property sales, the market saw a 2.8 percent increase in new listings, amounting to 4,900 properties hitting the market. The Bay of Plenty led the way with 385 new listings, a significant increase of 22.2 percent compared to the previous year. Other regions such as Wellington and Central North Island also reported notable growth, with new listings increasing by 18.5 percent and 12.9 percent, respectively.

Interestingly, not all areas experienced growth. Marlborough (down 25.2 percent), Nelson and Bays (down 24.8 percent), and Gisborne (down 19.2 percent) saw declines in new listings compared to December 2024. The Waikato region faced a particularly stark contrast, recording an all-time low of just 355 new listings in December, down from over 1,000 in November 2025.

Nationally, the average asking price for homes remained stable, experiencing a modest 1.7 percent year-on-year increase to $860,274. Only three regions recorded double-digit growth in average asking prices: the Bay of Plenty saw a rise of 13.3 percent to $931,602, Central Otago/Lakes District increased by 13.1 percent to $1,556,852, and Otago rose 11.7 percent to $614,849.

Conversely, Gisborne experienced the most significant decline in average asking price, dropping 29.1 percent to $532,314. This marked a notable event as it was only the third time in the year that the region’s average asking price fell into the $500,000 range. Furthermore, the average asking price in Wellington fell by 9.1 percent, dipping below $800,000 for the first time since May 2024.

Williams highlighted that this price drop could present opportunities for buyers. “While average asking prices have held in the $800,000s for much of the year, this softening suggests sellers are meeting the market. For buyers who’ve been waiting on the sidelines, this could be the window they’ve been looking for, especially with more stock on offer.”

As the property market enters 2026, Williams expressed optimism about the potential for increased activity. “More than 30,000 homes on the market in December is a rarity. With national prices holding steady and stock at multi-year highs in the final month of the year, we could see renewed activity in early 2026, especially if confidence builds over summer.”