Our take on the latest Real estate statistics (Thu 22 Jan 2026)
House prices down 0.4% from December 2024
House sales down 2.0% from November (sa)
Stock of properties for sale down 0.7% from November (sa)
The key numbers...
- House prices rose narrowly in December from November, up 0.1%, rising after two consecutive months of decline in October and November (seasonally adjusted). However, prices were still 0.4% lower than a year ago for the second consecutive month.
- House sales fell 2.0% in December from November and have declined in six of the last eight months (seasonally adjusted). Sales were 8.1% higher than a year ago, with November’s fall from a year ago appearing to be just a blip, rather than a change in trend.
- The stock of properties available for sale fell 0.7% in December from November. The number of new listings fell 11% from November, but it was higher than a year ago, up 2.8%pa. The number of properties available for sale remain elevated, higher than at any time since mid-2015, excluding the previous two months (all figures seasonally adjusted).
Auckland house prices restricting national growth
REINZ House Price Index, seasonally adjusted
...and our reaction
- House prices ended 2025 in the red, marking the second consecutive year of price falls, but there are varying trends across different parts of the country. House prices in Auckland declined 2.1% during 2025, while prices across the rest of the country rose 0.7%pa. Prices in Auckland are 23% below their 2021 peak, while prices across the rest of the country are a more modest 11% below their peak.
- The median length of time to sell remained at 45 days in December (seasonally adjusted). The high number of properties available for sale continues to restrict properties from moving off the market more quickly.
- Tomorrow’s Consumers Price Index release for the December 2025 quarter is expected to show inflation remaining at 3.0%, at the top of the Reserve Bank’s 1-3% target band. This data, along with other Economic indicators, continues to suggest that the current official cash rate of 2.25% will be the bottom for this cycle.
Latest updates
Premium
Real estate statistics
House prices stabilise, for now
Mon 16 Mar 2026
Monthly
0.7% House prices from Jan 2026 (sa)
0.3% House sales from Feb 20252.3% Stock of houses for sale since Oct 2025 (sa)Premium
Real estate statistics
A weak start to 2026 for the housing market
Mon 16 Feb 2026
Monthly
8.9% House sales from Dec 2025 (sa)0.7% House prices from Jan 2025
Stock of homes for sale still near 10-year highsReal estate statistics
House sales slow in November
Tue 16 Dec 2025
Monthly
House prices down 0.2% from October (sa)House sales down 4.5% from October (sa)
Stock of properties for sale up 0.2% from October (sa)