The average asking price for a property fell in April, the second monthly drop this year, according to new figures from Trade Me.
According to Trade Me's Property Pulse Report, the average asking price for a property in April was $855,150, down 0.8% compared with March and 2.6% year-on-year.
Auckland fell 1% compared with March - the biggest month-on-month decline in eight months. The average asking price was $1,046,900. Year-on-year, prices in Auckland are down 3.2%.
1News' Simon Mercep asked Trade Me Property customer director Gavin Lloyd what drove the dip. (Source: 1News)
Trade Me Property customer director Gavin Lloyd said the drop was "somewhat typical" for this time of year and attributed it to seasonal fluctuations.
“Historically, as we move into the colder months of the year we see a dip in buyer activity, and this is reflected in the most recent data," he said.
"House hunting is a lot more appealing when the sun is shining and properties look and feel their best."
He described Auckland's prices as "consistently inconsistent", with prices experiencing a 10-month high in March, followed by the largest fall since August 2024 in April.
“After dipping below the million-dollar average last August, many will be keeping a watchful eye on the city of sails as to how things play out as we move closer to winter.”
Lloyd said a level of "uncertainty" hovering over the market had also impacted prices.
"It's just having that lingering impact on the confidence of people to come into the market."
The number of days properties spent listed on Trade Me increased to 62 days in April from 56 in March. This still remained lower than Trade Me's previous average of 85 days in January.
Lloyd said this likely had an impact on average asking prices.
“The rule of thumb is that the longer properties spend on the market, the more sellers need to adjust their expectations, particularly when it comes to price. This is especially true in a market where there’s plenty of supply to choose from."
The number of properties listed on Trade Me experienced a 4% drop between March and April. Demand also dropped 13% month-on-month.
The biggest drops were on the West Coast (down 7%), Nelson/Tasman (down 7%), Canterbury (down 6%), Gisborne (down 6%), and Taranaki (down 6%).
Lloyd said that while listings were down, buyers still had plenty of choice with "several thousand" more listings in April 2024 compared to April 2025.
"That means buyers continue to have plenty of leverage and to secure a sale, vendors are going to need to meet the market, particularly in regards to realistic price expectations.”
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