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New Zealand Property Sellers See Busiest June Since 2020 as New Listings Rise

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The national average asking price in New Zealand's property market held steady at NZ$866,314 in June, with new listings rising 4.3% year over year to 7,942 during the month, according to a Wednesday report from realestate.co.nz.

The new listings activity represents the busiest June for vendors since 2020, indicating that sellers "are no longer waiting for economic or geopolitical uncertainty to pass before making property decisions," the report said.

The Southland region posted the strongest year-on-year new listings growth in June at nearly 25%, with four other regions also recording double-digit increases.

Meanwhile, Canterbury became the country's first major region to exceed its 2022 price peak, reaching an all-time high average asking price of NZ$757,136 in June, up 5.2% from a year earlier.

National stock levels jumped 7.3% from a year ago to 34,761 properties in June, "which means buyers can be more considered in their decision-making," said Sarah Wood, CEO of realestate.co.nz.

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