Overall sentiment from Agents across Auckland

Auckland Market Summary – Winter 2025

Overall Market Shape: Cautious, Buyer-Leaning, Fragmented by Product Type and Motivation

Key Themes

• Buyer's Market Dominates: The majority of Auckland is still firmly in buyer’s market territory. Buyers have options, are taking their time, and are very price-conscious.

• Two-Speed Market:

  • Standalone, well-presented homes (especially via auction) are attracting interest and selling relatively well.

  • Terraced townhouses and apartments face oversupply, minimal urgency, and price pressure.

• Mismatched Expectations: A persistent gap between what sellers want and what buyers are willing to pay continues to delay or derail many transactions.

• Low Urgency: There’s very little FOMO. Many buyers prefer to wait it out, believing prices may still fall or better stock will emerge.

• Listing Quality vs Quantity: While listings are high, much of the stock is considered “poor quality” or overpriced, leading to low buyer engagement unless properties are well presented and competitively priced.

Buyer Behaviour

• Cautious and Selective: Many buyers are doing extensive due diligence, seeking legal and building advice—and walking away at the first sign of issues.

• Conditional and Hesitant: Most buyers are finance conditional, seeking long settlement dates, and reluctant to engage in competitive bidding unless it’s a “must-sell” situation.

• Focus on Value: First-home buyers and investors are prioritising turnkey homes with perceived value. Anything that needs work, or is priced above current market sentiment, gets ignored.

• Unforgiving of CV Mismatches: Buyers are increasingly dismissing CVs and relying on their own research. Unrealistic sellers anchored to old CVs are being bypassed.

Vendor Sentiment

• Divided: Some vendors are adjusting expectations and getting results. Others are still hoping for 2021 prices and withdrawing listings when they don't get them.

• Price Anchoring is Common: Even with strong feedback and market evidence, many vendors are unwilling to meet the market, leading to longer days on market and more unsold stock.

• Motivated Vendors Sell: Homes that come to market with realistic pricing and a clean presentation—especially via auction—are transacting quickly.

Submarket Snapshots

North Shore

• Listings slowly decreasing, but still too many in some sectors.

• Buyers circling but holding firm on low offers and tight conditions.

• Auction clearance rates sit around 40–50% under the hammer (true rate, excluding pre/post sales).

• Plaster homes and 2-bed terraces face strong buyer resistance.

• Some FOMO creeping into entry-level homes, but not widespread.

West Auckland

• Open home attendance has dropped sharply—some down to zero visitors.

• Sellers are increasingly motivated (e.g. "Australia-bound" headlines common).

• Buyer sentiment dampened by job losses and cost-of-living pressures.

• Discounted pricing often still not enough to shift stock quickly.

South Auckland

• Mixed activity: lower price brackets more active, mid-range homes languishing.

• Buyers sceptical of homes with long days on market—even if recently repriced.

• Perception of value drives sales, not actual improvements in condition.

Central Auckland

• High-quality homes still move, particularly under auction conditions.

• Buyers need urgency triggers (e.g. multiple interest) or they disengage.

• Apartment market is weak; vendors shocked by new CVs and low investor demand.

Fringe Suburbs

• Developers struggling to shift stock unless heavily discounted.

• Many holding out, believing things will bounce back—causing stagnation.

• Buyers are not in a rush; viewing multiple properties before committing.

Product-Specific Trends

Property Type	Market Sentiment	Notes
Standalone Family Homes	Reasonably healthy	Selling well if priced accurately and marketed via auction
Terraced Townhouses	Oversupplied & soft	Buyer fatigue, low demand, and high developer competition
Apartments	Weak	Especially older or high-BC-fee stock; investors retreating
Development Land	Price declining	Interest rates & cost models not stacking up for most developers
Do-ups / Renos	Niche buyer interest	Only sell if vendor expectations are sharply realistic

Auction Insights

• Auctions remain one of the most effective ways to create urgency and uncover true market value.

• Clearance rates vary by subregion and property type, but are typically higher when campaigns are short, sharp, and vendor motivation is clear.

• Auctions can also provide useful social proof for sellers who are unsure of their home’s value in this market.

Looking Ahead: Spring 2025

• Stock Surge Expected: Many agents anticipate a spring surge in listings, especially from vendors who held off over winter.

• More Competition for Sellers: Those listing in September/October may face tougher competition, especially if interest rates remain unchanged.

• Window of Opportunity Now: Motivated vendors may benefit from listing earlier to avoid the stock flood and stand out.

Conclusion

The Auckland market is best described as balanced in parts, sluggish in others, with strong buyer control overall. Deals are being done—but only when:

• Properties are priced in line with current buyer expectations,

• Presentation is clean and turnkey,

• Vendor motivation is clear.

Caution dominates the market, but so does opportunity—for both buyers and sellers—if realism and strategy align.