Those dreaming of a new home over the Christmas period had plenty to choose from.
The end of 2025 saw December stock levels surpass 30,000 nationally for the first time in any December in a decade and capped off a full year of consistently high supply, with more than 30,000 properties on the market every month of 2025.
Latest data from realestate.co.nz shows the number of properties for sale on the site in December was at a 10-year high, with stock levels up 3.1 per cent year-on-year to 30,390.
A total of 11 regions recorded year-on-year growth, with Northland (up 11.4 per cent) and Auckland (up 11.0 per cent) leading the way.
Vanessa Williams, spokesperson for realestate.co.nz, says vendors usually hold off selling during the silly season, but this year, nine of 19 regions bucked the trend with a rise in new listings compared to last year.
“The lift in stock to a 10-year December high suggests that while sellers are feeling confident heading into 2026, buyers are being more considered and benefiting from greater choice.”
The property market, typically quiet in December, saw a 2.8 per cent year-on-year increase in new listings with 4900 properties hitting the market.
Bay of Plenty led the way with 385 new listings in the region up 22.2 per cent compared to December 2024.
Wellington (224 listings) and Central North Island (114 new listings) also recorded double-digit year-on-year growth in new listings, up 18.5 per cent and 12.9 per cent respectively.
“Typically, December is a time when vendors hit pause, so seeing this level of activity tells us many people were motivated to sell and felt confident enough to list – even before their Christmas shopping was finished,” Williams says.
It was a tale of two Decembers, however, in which Marlborough (77), Nelson and Bays (118), and Gisborne (21) all recorded double-digit declines in new listings, down 25.2 per cent, 24.8 per cent and 19.2 per cent respectively, compared to December 2024.
Meanwhile, Waikato recorded a December all-time low with just 355 new listings, a stark contrast from its position in November 2025, when the region reported over 1000 listings in a month.
Nationally, the average asking price remained steady with a 1.7 per cent year-on-year increase to $860,274. Just three regions recorded double digit year-on-year growth:
- Bay of Plenty’s average asking price increased 13.3 per cent to $931,602.
- Central Otago/Lakes District’s average asking price increased 13.1 per cent to $1,556,852.
- Otago’s average asking price increased 11.7 per cent to $614,849.
Gisborne, a standout region for 2025, experienced the most significant decline in average asking price, falling 29.1 per cent from December 2024 to $532,314, only the third time the region has recorded an average asking price in the $500,000 bracket this year.
The capital also saw a fall in average asking price, down 9.1 per cent year-on-year to $797,463.
This dip saw Wellington’s average asking price fall below $800,000 for the first time since May 2024.
Williams says this drop presents a rare opening for buyers in the capital.
“While average asking prices have held in the $800,000s for much of the year, this softening suggests sellers are meeting the market.
“For buyers who’ve been waiting on the sidelines, this could be the window they’ve been looking for, especially with more stock on offer.”
Does December set us up for a year of activity in the property market?
“More than 30,000 homes on the market in December is a rarity,” says Williams.
“With national prices holding steady and stock at multi-year highs in the final month of the year we could see renewed activity in early 2026, especially if confidence builds over summer.”
