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Spring property market blooms as buyer demand surges
Property Pulse Report - September 2025
By Gavin Lloyd 9 October 2025
Aotearoa’s property market showed signs of a spring revival in September, with Auckland’s average price rising above $1-million for the first time since June, and strong price growth in the Deep South.
Trade Me’s Property Pulse Report shows the national average asking price climbed to $835,350 in September, a 1.3 per cent bump on August. Prices remain 1.6 per cent lower than the same time last year.
Monthly Change in the Property Price Index
+0.9% increase excluding Auckland
Property prices have increased by 0.9% excluding Auckland.
Tāmaki Makaurau prices jump
The country’s largest market saw month-on-month growth of more than $36,000 to reach an average of $1,024,850 in September.
The 3.7 per cent increase in August is the largest month-on-month gain since January, however prices remain down 1.8 per cent compared to September 2024.
Properties in Auckland city, Manukau and Rodney all saw increases of more than six per cent from August, while Franklin saw the largest decrease (5.9%).
Trade Me Property Customer Director Gavin Lloyd says “it's a welcome sign of life for the Tāmaki Makaurau market. Not only are we seeing Auckland back in the million dollar club, year-on-year demand is strong, up more than 12 per cent on last year, and ahead of supply which is up six per cent.”
Regional variations in stark contrast
The deep south continues to prove resilient with Otago, Southland and the West Coast showing strong growth in prices.
The Southland region led the charge with a 9.7 per cent year-on-year increase in average asking price to $539,150, followed by the West Coast (8.9%) at $493,350 and Otago (4.1%) at $879,550.
“Otago also showed particularly strong month-on-month growth from August, with the average asking price increasing more than $84,000. Wānaka alone saw an increase of more than $400,000 in the month, with year-on-year prices in the town up more than 21 per cent.”
In the North, Taranaki is the one of only three regions of the nine Trade Me Property monitors in the North Island to show positive year-on-year momentum with the average price rising 9.5 per cent, streaks ahead of Hawke’s Bay (1.1%) and Waikato (0.4%).
Marlborough has recorded the most significant annual fall, with prices down 9.3 per cent, ahead of Gisborne (-7.4%) and Gisborne (-6.8%).
A surge in new listings
Spring has sprung and so have the number of new listings on Trade Me Property with year-on-year supply up 5.9 per cent and close to 19 per cent from August. Meanwhile, property searches by prospective buyers skyrocketed, increasing by more than 24 per cent compared to September 2024.
"The spring selling season has kicked off with a burst of activity," says Mr Lloyd.
“More buyers actively looking and more properties coming to market suggests confidence is growing and we can expect a very busy spring for the property sector."
| Region | Property Price Index | YoY % change | |||
|---|---|---|---|---|---|
| Auckland | Auckland | $1,024,850 | $1,024,850 | -1.8% | -1.8% |
| Bay of Plenty | Bay of Plenty | $864,150 | $864,150 | -4.8% | -4.8% |
| Canterbury | Canterbury | $722,500 | $722,500 | -1.1% | -1.1% |
| Gisborne | Gisborne | $618,850 | $618,850 | -6.8% | -6.8% |
| Hawke's Bay | Hawke's Bay | $753,050 | $753,050 | 1.1% | 1.1% |
| Manawatuū/Whanganui | Manawatuū/Whanganui | $584,850 | $584,850 | -0.6% | -0.6% |
| Marlborough | Marlborough | $724,800 | $724,800 | -9.3% | -9.3% |
| Nelson/Tasman | Nelson/Tasman | $810,350 | $810,350 | 2.1% | 2.1% |
| Northland | Northland | $764,100 | $764,100 | -7.4% | -7.4% |
| Otago | Otago | $879,550 | $879,550 | 4.1% | 4.1% |
| Southland | Southland | $539,150 | $539,150 | 9.7% | 9.7% |
| Taranaki | Taranaki | $674,300 | $674,300 | 9.5% | 9.5% |
| Waikato | Waikato | $815,000 | $815,000 | 0.4% | 0.4% |
| Wellington | Wellington | $779,300 | $779,300 | -2.5% | -2.5% |
| West Coast | West Coast | $493,350 | $493,350 | 8.9% | 8.9% |
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