The New Zealand Property Report October 2024 data shows the national median price increased by 0.7% year-on-year; month-on-month, it increased by 1.9%. Excluding Auckland, the median price rose 2.9% year-on-year and increased 2.2% compared to October 2024.
“The New Zealand property market is experiencing a dynamic shift. While median prices are gradually catching up, local salespeople note that some buyers remain cautious about overpaying for properties due to relatively high interest rates. This environment encourages buyers to be more strategic in their approach, making them feel confident in negotiating with vendors to reach an agreeable price,” explains Chief Executive Jen Baird.
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