New Zealand property values 2025

The story so far

National property values fell for a ninth month in December, dropping 0.2%, while Wellington fell 0.8% and Hamilton rose 1%.^{3 Jan 2025} CoreLogic said in late January that the market may be nearing a trough, with national values down only 0.1% that month.^{31 Jan 2025} By February, Wellington's median values had fallen 25.1% over the year, the largest drop among the main centres, though an economist suggested prices could rise in 2025.^{21 Feb 2025} An ASB survey found expectations of rising house prices had returned to 2020 levels, with a net 33% expecting increases.^{24 Feb 2025} Wellington values rose 0.1% in February, its first increase in 11 months, while national values grew 0.3%. Northland, a Wellington suburb, saw median values fall 30.6% from a December 2021 peak.^{6, 9 Mar 2025}

Key moments

1. 3 Jan 2025National values fall for ninth month; Wellington down 0.8%
2. 31 Jan 2025CoreLogic says market may be approaching a trough
3. 21 Feb 2025Wellington posts largest annual median drop among main centres
4. 24 Feb 2025ASB housing confidence returns to 2020 levels
5. 6 Mar 2025Wellington values rise for first time in 11 months
6. 9 Mar 2025Northland suburb median values down 30.6% from peak
7. 17 Mar 2025Wellington median falls below $800,000 as sales slow

Written from the stories below; each sentence links to its sources.