Auckland Housing Market Opens New Year Cautiously, Increase In Sales In Under $1 Million Price Segment

January sales data

The normal, cautious start to the new year for the Auckland housing market masks a positive rise in sales numbers.

“As is customary, the Auckland housing market quietly edged into 2025 with January sales prices and sales numbers below where they were at in December,” said Peter Thompson, Managing Director of Barfoot & Thompson.

“The median sales price for the month at $950,000 was down 5 percent on that for December, while the average price at $1,053,446 was down 11.2 percent and sales numbers at 700 were down 16 percent.

“A fall in January compared to December is a trend that has occurred over the past 5 years.

“However, when you drill down into sales numbers for the month, 700 sales represents a positive start to the year, amounting to an increase of 38.9 percent on those for January 2024.

“This is the second year in a row that January’s sales numbers have increased January-on-January and, in the last 9 years, our January sales have only exceeded 700 on two previous occasions.

“Seen within the context of monthly sales numbers over the past three years, to sell 700 homes in the holiday shortened period of January represents a solid start to the trading year.

“The focus of buyers in January was on the lower price segments of the market with 56 percent of our sales in the month taking place in the under $1 million market. Our average number of monthly sales in the under $1 million market during 2024 was 51 percent.

“This strong showing in the below $1 million market has a masking effect on the median and average prices.

“January is invariably a month when sales in the $2 million and above price categories are light.

“We added a healthy 1361 new listings to our portfolio in January, and at month’s end had 5383 homes on our books. This is a little short of our average monthly listing in 2024, but the highest we have had in the month of January since 2021.

“After registering a 31-month high in sales turnover in December, the rural and lifestyle markets experienced a quieter January, with sales turnover of $42.6 million, exceeding that for January last year by 9.8 percent.”

Barfoot & Thompson knows Auckland best. It is the city’s leading real estate company, selling around one in three Auckland residential homes, significantly ahead of all other competitor brands.

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