Discover the Resilience of Auckland’s Lifestyle Property Market: Trends and Insights

Data from the Real Estate Institute of New Zealand (REINZ) shows some interesting trends in the lifestyle property market. In the three months ending February 2025, sales dropped slightly, with 12 fewer lifestyle properties sold compared to the previous period. This represents a decline of just 0.9%. However, when looking at the same time last year, the market showed significant growth, with sales increasing by 18.3% from 1,172 properties in February 2024 to 1,387.

Overall, lifestyle property sales for the year ending February 2025 reached 6,181, a jump of 12.4% from last year, totaling $6.96 billion in value. The median price for these properties increased to $957,500, which is $24,500 more than in the same quarter last year. Notably, the price for bare land dropped to $425,000, down by $15,000, while the median price for farmlet lifestyle properties rose to $1,100,000, reflecting a strong demand in that category.

The REINZ rural spokesman emphasized that the slight decline in sales is overshadowed by the strong yearly growth. Sales have surged more than 12% overall this year, resulting in an impressive market valued at almost $7 billion.

Sales figures varied across regions. Auckland and Waikato led the way with increases of 53 and 50 sales, respectively, while Nelson/Marlborough and Gisborne/Hawke’s Bay saw declines of 11 and 2. Comparatively, five regions reported growth in sales from January 2025.

Interestingly, eight regions saw median prices for lifestyle properties rise over the year, with the West Coast experiencing a dramatic increase of 57.3%. However, Southland and Nelson/Marlborough/Tasman reported significant drops in prices, with declines of 19.2% and 13%, respectively.

The time required to sell lifestyle properties lengthened slightly, averaging 79 days in February 2025, compared to last year’s 73 days. Southland enjoyed the fastest sales, with properties selling in an average of 56 days. In contrast, Northland had the longest wait, taking around 103 days.

In summary, while there’s been a small decline in sales this month, the overall market remains robust. The differences in region-specific sales and prices highlight the diverse nature of the lifestyle property market across New Zealand.

For further details on these market trends, you can visit Scoop.

Check out this related article: Step Up Your Game: New Balance Launches Exciting Basketball Collaboration with LA’s Trendsetting Brand Bricks & Wood