As the frost bites and the mornings demand a hot coffee, the New Zealand property market isn’t staying cold for long. REINZ’s latest data shows May brought a moderately more active market – hinting that while winter sets in, activity is quietly starting to warm up. Let’s take a look at what’s moving in the market this June.
Signs of a Steady Recovery
Winter may be here, but the property market is quietly warming. National sales in May rose nearly 9% year-on-year, with more listings giving buyers room to move. Prices remain stable, with the median holding at $689,000, and more activity pointing to growing confidence.
Wellington mirrors this trend. Prices have steadied between $750,000 and $795,000, and while homes are taking a bit longer to sell, interest is strong—especially in well-connected, lifestyle-friendly suburbs. It’s not a boom, but it’s a calm, confident reset—setting the stage for a stronger spring.
Not Too Hot, Not Too Cold – Just Right?
Lower Hutt’s property market continues to advance with quiet resilience. From a median sale price of $686,000 in April, the market has now nudged up to $745,000—a 3.5% rise compared to last year—signalling a steady but sure recovery.
Last month saw 134 properties sold, demonstrating consistent buyer interest. While homes are spending a median of 52 days on the market, this measured pace suggests buyers are taking time to make informed choices and sellers are setting realistic expectations.
The demand is largely driven by owner-occupiers and those looking to upgrade, reflecting a community-focused market rather than speculative activity. This balance between buyers and sellers is helping to create a more sustainable environment.
Lower Hutt might not be grabbing headlines, but that’s exactly why it’s worth watching. It’s steady, it’s active, and it’s quietly recalibrating. In a market looking for balance, that’s something worth paying attention to.
Why Auctions Are a Smart Way to Sell
We have seen an uptick in auctions in our marketplace recently compared to recent years. With over 500 listings available, there is a historically high number of homes for sale in Lower Hutt.
The feedback we have been receiving from our buyers is that auctions are providing them with a refreshing transparency from being able to know where their competition is in the room. It is also putting them into strong cash unconditional purchasing positions. If they are successful at our auctions then great, however if they miss out they are still at an advantage for the next home by having taken the steps to be cashed up and ready to go. As the saying goes, cash is king in any market.
For our owners it is giving them a much more powerful call to action, with the fear of missing out being much more prevalent with an auction in amongst a market that is currently filled with deadline sales, negotiation and fixed prices. People are turning up and bidding as they know they may not get a second chance at buying the home.
Recent Notable Auction Sales:
44 Bell Road, Waiwhetu – pre auction offer of $880,000 accepted. Auction brought forward. 3 bidders. Sold for $920,000
53B Laings Rd, Central Hutt – 7 registered bidders. Sold for $1,671,000
9 Harley Grove, Boulcott – 5 registered bidders. Sold for $1,235,000
40 Stellin St, Boulcott – brought forward auction to a pre-auction offer of $901,000. Sold for $905,000 to another bidder. 3 registered bidders in total.
20 Bell Road, Waiwhetu – 5 registered bidders. Sold for $760,000
46 Cedar St, Maungaraki – sold for $815,000 to a pre-auction offer.
14 Matuhi St, Tirohanga – 3 registered bidders. Sold post auction for $588,000
Want to see where your house sits in this current market? Get a free appraisal and be in to win 1 of 2 $10,000 travel vouchers!
