Auckland regional property market insights

Trade Me Property’s most recent Property Price Index, had average Auckland property prices for November at $1,053,100, up 1.4% from October. Despite the increase month-on-month, this figure is still down 1.5% compared to the year before.

So, while Auckland has now been back in the million dollar club for two months, properties in the City of Sails are still more affordable than they were last year.

The number of Auckland homes available for sale on Trade Me Property in November was 16,060, up slightly from October (15,961), and also up from the same period last year.

The average cost of renting a property in the Auckland region decreased slightly month-on-month, from $675 in October to $670 in November. This was very similar to November 2023, when the average cost of renting in Auckland was $670.

In November 2024, there were a total of 11,672 Auckland properties for rent on Trade Me Property, up from 11,352 the month before.

Among people surveyed in our September 2024 Property Pulse survey* who were seeking to buy a home in the Auckland region:

• 28.5% were currently in the process of buying a home.
• 24.8% were just thinking about buying a property.
• 24.2% were looking to buy a property in the next year.
• 22.6% were looking to buy a property in the next 1-2 years.

Of the respondents who’d ideally buy a property in Auckland, 58% believe that now is a good time to buy. Would-be buyers in the Auckland region say they would be most willing to compromise on the size of the section/land in order to stay within their buying budget, compared to a range of five other options including size of garden, location and property condition.

Interested in how quickly homes change hands in the Auckland region? Of the respondents looking to sell a home in the Auckland region:

• 30.8% had owned their current home for more than five years.
• 28.2% had owned their current home for 3-5 years.
• 11.3% had owned their current home for 1-2 years.
• 16.7% had owned their current home for 6-12 months.
• 23.5% had lived in their current home for fewer than 6 months.

Of respondents looking to sell a home in the Auckland region:

• 25.8% were currently in the process of selling a property.
• 23.6% were just thinking about selling a property.
• 30.3% were looking to sell a property in the next year.
• 33.6% were looking to sell a property in the next 1-2 years.

As the economic beating heart of Aotearoa, Auckland/Tāmaki Makaurau draws in Kiwi from all corners of the country, as well as plenty of folks from overseas. This makes for a vibrant melting pot of people and culture, as well as a dynamic property market.

The Auckland region refers to roughly 4,941 square kilometres of Te Ika-a-Māui/the North Island, and includes the following districts:

• Auckland City

• Franklin

• Hauraki Gulf Islands

• Manukau City

• North Shore City

• Papakura

• Rodney

• Waiheke Island

• Waitakere City

For Aotearoa, the Auckland region is densely populated, being home to nearly one-third of our population, with roughly 352 people per km2.

According to the Ministry of Business, Innovation and Employment (MBIE), this part of the Motu is responsible for roughly about 40% of our GDP, and 36% of the jobs filled in our country. While many of these roles are found in the heart of the CBD, you’ll also find vineyard jobs on the island paradise of Waiheke, and major employment hubs like Auckland International Airport in Papakura.

*Data from Trade Me Property Pulse Survey 2024. 1,572 total responses, 524 responses from the Auckland Region.