New Zealand’s property sales market remained broadly stable in February, with activity edging slightly higher compared with the same time last year.
The number of sales in February was 0.3% higher than in February 2025, according to a Real Estate Institute of New Zealand (REINZ) analysis of realestate.co.nz data.
At the same time, new listings rose 7.8% year-on-year, while national inventory levels increased 1.8%, indicating that buyers continued to have a reasonable range of properties to choose from.
Homes also took slightly longer to sell. The median days on market was 56 days, compared with 54 days in February 2025.
Auctions remained a notable sales method, with 1,214 properties sold at auction, representing 18.6% of all transactions during the month.
REINZ Chief Executive Lizzy Ryley said the market had been relatively steady for some time, with buyers and sellers showing growing confidence, although this varies around the country.
Ms Ryley said regional trends were likely to diverge over the coming months. Canterbury and Otago were expected to lead growth, Auckland may gradually strengthen, and Wellington and some storm-affected northern regions could take longer to recover.
However, she noted that several broader influences may continue to shape buyer behaviour. “Rising costs, ongoing weather disruptions and election uncertainty mean buyers are likely to remain cautious.”
Ms Ryley added that global events may also affect confidence. “The situation in the Middle East is something we are monitoring closely, as it may influence household confidence and the cost-of-living environment in which buyers and sellers make decisions.”
What stable conditions mean for buyers and sellers
When sales volumes hold steady and listing numbers increase, the market often becomes more balanced between buyers and sellers.
For buyers, higher listing levels can mean more choice and more time to consider options before making an offer. For sellers, stable demand can still support transactions, particularly when homes are priced realistically and presented well.
Days on market is also a key indicator of market momentum. A slight increase, such as the two-day rise seen in February, often suggests buyers are taking a more considered approach rather than competing aggressively.
Understanding how these market conditions interact with lending settings can make a real difference when planning a purchase or sale.
Anyone wanting clarity around their borrowing options in the current market is very welcome to speak with us, and we’d appreciate an introduction.
