Residential property values in east Auckland have largely stayed the same over the first quarter of 2025.
Quotable Value NZ (QV), the state-owned-enterprise, says the average home value across the Auckland region dipped slightly by 0.1 per cent to $1,244,605 in the first three months of the year.
But valuations encompassing east Auckland areas experienced some marginal growth on average, in Manukau up 0.2 per cent, and Franklin up 1.1 per cent.
Auckland QV registered valuer Hugh Robson says prices across the region look to have stabilised, with little to no prospect of sustained growth in the immediate future.
“We’re at the end of summer now and it has been a fairly quiet one. The market continues to plod along with not a lot happening.
“First-home buyers are the most active sector, but agents are reporting fairly low attendance at open homes across the board.
“There is quite a lot of stock on the market at present, but there just isn’t a large amount of demand,” Robson says.
“It seems many people are still understandably concerned about retaining their jobs and about dealing with the high cost of living.”
Meanwhile, one Auckland real estate company is bullish about the region’s housing market, describing that it has “responded aggressively to improved buying conditions with turnover hitting the highest number of sales in a month for more than three years”.
“The long-anticipated housing market recovery finally arrived in March,” says Peter Thompson, Barfoot & Thompson managing director.
“We sold 1213 properties in March, and you need to go back to July 2021, when the market was just off its peak, to find a month when we sold more homes.”
He says Barfoot & Thompson also saw a “marked increase” in Auckland residential property sales prices last month, with the median price rising by 4.3 per cent to $970,000 and the average price to $1,145,045.
“The momentum in the market has been slowly building since the start of the year, and with marginally better economic news in March confidence in the housing market lifted.
“Although both the median and average prices paid in March were at their highest this year, buyers continued to be cautious, and the prices being paid remain below where they were at this time last year,” Thompson says.
“Higher sales number at modestly higher prices is a positive sign that improved market activity is likely to be sustained over the next few months.
“Buyer choice remains at an all-time high despite the high sales in March, and we listed 2103 new properties in the month through a combination of new builds reaching the market and existing properties.”
Thompson says at the end of March, the company had 6268 residential listings on its books in Auckland, “by far the largest number of listings in 15 years”.
“Sales activity was strong in all price segments during March, with a notable increase in sales at the top end of the market.”
He says Barfoot & Thompson sold 28 homes across Auckland for more than $3 million in March, the highest number in a month for three years, and a further 61 properties for prices between $2m and $3m.
