First Home Buyers Take Note: The Door’s Open — But It Won’t Stay That Way

First home buyers in Aotearoa are facing one of the most strategically favourable markets in recent memory — but only if they act fast.

According to new data from realestate.co.nz, national housing stock dropped for the third month in a row, dipping by nearly 2,000 properties to 30,430 in July 2025. That’s a 0.4% decline on the same time last year — yet buyer demand hasn’t eased.

The result? A rare opening for serious buyers before the usual spring flood of listings hits.

“There’s Less to Choose From — But That’s Not Always a Bad Thing”

Vanessa Williams from realestate.co.nz says now’s the time for buyers who are ready to move.

“While there are fewer homes coming to market, the buyers haven’t gone anywhere,” Williams said. “Vendors with realistic price expectations are selling, and without a flood of competition, it’s a smart time to strike.”

Of all the homes listed on the platform in July, nearly 60% were priced under $850,000 — a sweet spot for first home buyers and investors sitting just below the national average asking price of $858,189.

Market Holds Steady — But Regional Stories Steal the Show

Nationally, average asking prices nudged up just 0.6% year-on-year, but local dynamics are far more revealing.

West Coast surged by 25.3%, cracking the $500K mark for the first time since January.
Northland posted a strong 9.8% annual lift, now sitting at $843,362.
Nelson & Bays rose 2.6% to $874,818.

Conversely, four regions experienced price declines both monthly and annually: Wellington, Marlborough, Wairarapa, and the Central Otago/Lakes District — the latter still holding the country’s highest average at $1.43 million despite an 8.5% annual dip.

“National averages only tell part of the story,” said Williams. “Each region has its own pulse — and local market knowledge is more critical than ever.”

Stock Drops, But Some Markets Buck the Trend

While the national number of new listings fell 4.2% year-on-year to 7,737, some regions are seeing notable momentum:

Gisborne listings jumped 35.5%.
West Coast rose 20.6%.
Northland, Gisborne, and Taranaki all posted significant increases in new listings year-on-year — up 26.3%, 54.5%, and 34.3% respectively.

Spring Surge Incoming — But Today’s Market Rewards Action

As winter wraps, all eyes are on the seasonal lift expected in spring. But right now, the edge lies with buyers who are prepared, cashed-up, and clear on their goals.

“This is a market that rewards alignment — when vendors are realistic and buyers are ready, deals are being done,” Williams added.

For first home buyers, that could mean one thing: move now — or risk competing in a much busier spring.