Three years can bring dramatic change in the property market, but a comparison of August 2023 and August 2026 reveals a more nuanced picture.
Realestate.co.nz data shows the number of homes for sale in August 2026 was 45.0% higher than in August 2023, while the number of new listings coming onto the market was 11.8% higher.
Over the same period, the national average asking price declined just 3.2%.
Realestate.co.nz CEO Sarah Wood said the figures revealed a property market that was stable, steady and full of choice.
“The striking thing about today’s market isn’t how much prices have changed, but how little they have,” she said.
Ms Wood noted that despite three years being a long time in property, the national average asking price had moved by less than $28,000 since August 2023.
More options for today’s buyers
The much larger change has been the amount of property available.
With the number of homes for sale up 45.0%, buyers have considerably more properties to compare and potentially more time to make a decision. Yet the increase in choice has not resulted in a dramatic change in asking prices.
Ms Wood said this made today’s conditions very different from the rapid market swings experienced earlier this decade.
“Three years of relatively flat asking prices suggest we may be looking less at a market waiting for the next big correction, and more at one that has found its new normal,” she said.
With considerably more properties on the market, buyers may be able to cast a wider net – but they still need to know where their financial boundaries lie. For clients who need clarity on their budget before negotiating, we’re here to help.
