Auckland Housing Market Update Video - March 2025
Watch Peter Thompson, Managing Director of Barfoot & Thompson, discuss the significant recovery in the Auckland housing market during March 2025.
Key Points from the Video:
- March 2025 saw 1,213 property sales, the highest monthly figure since July 2021
- Median price increased by 4.3% to $970,000
- Average price increased by 3.4% to $1,145,045
- Growing market confidence attributed to improved economic news
- Record inventory levels provide excellent buyer choice
March 2025
Peter Thompson
Auckland Housing Market Roars Back to Life: March 2025 Update
The Auckland housing market has shown significant signs of recovery in March 2025, according to the latest update from Barfoot & Thompson. The report indicates a surge in sales activity, reaching the highest monthly number in over three years, coupled with the highest prices seen so far this calendar year. This positive shift suggests a strong response to improved buying conditions.
Long-Awaited Market Recovery Finally Arrives
Peter Thompson, Managing Director of Barfoot and Thompson, stated unequivocally, “The long-anticipated housing market recovery finally arrived in March.” This declaration highlights the significance of the data presented in the report, signaling a potential turning point for the Auckland property market.
Highest Sales Volume in Over Three Years
The number of properties sold in March 2025 reached an impressive 1,213. This figure marks the highest monthly sales volume since July 2021, a period when the market was nearing its peak. To put this into perspective, the sales figure for March 2024 was 1,061, indicating a substantial year-on-year increase. The surge in sales represents a 77.1% increase compared to the 685 sales recorded in the previous month (February 2025) and a 64.1% increase compared to the average of 739 sales in the preceding three months.
Significant Increase in Sales Prices
Alongside the increase in sales volume, March 2025 also witnessed a notable rise in sales prices. The median price increased by 4.3 percent to $970,000. Similarly, the average price saw a 3.4 percent increase, reaching $1,145,045. These figures represent the highest median and average prices recorded this year. When compared to the previous month (February 2025), the average price increased by 3.4% from $1,107,006, and the median price increased by 4.3% from $930,000. However, it’s important to note that despite these increases, both the median and average prices remain below the levels observed at the same time last year. The average price in March 2024 was $1,227,495, representing a 6.7% decrease compared to March 2025, while the median price in March 2024 was $1,050,000, showing a 7.6% decrease year-on-year.
Growing Market Confidence
According to Peter Thompson, the momentum in the market has been gradually building since the beginning of the year. He suggests that “with marginally better economic news in March confidence in the housing market lifted.” This indicates that broader economic factors are playing a role in the renewed activity and positive sentiment within the Auckland housing market.
Sustained Market Activity Expected
The report highlights that the combination of higher sales numbers at modestly higher prices is a promising indicator for the sustainability of this improved market activity in the coming months. This suggests that the recovery is not just a temporary blip but could represent a more enduring trend.
Buyer Choice Remains High
Despite the significant increase in sales, buyer choice remains at a historically high level. In March, 2,103 new properties were listed on the market. This influx of new listings is attributed to a combination of new builds becoming available and existing properties being put up for sale. The number of new listings in March 2025 shows a 1.4% increase compared to the 2,073 new listings in the previous month and a substantial 49.4% increase compared to the three-month average of 1,405 new listings. Compared to March 2024, when 1,952 new listings were recorded, there is a 7.7% increase in new listings in March 2025.
Record Levels of Inventory
At the end of March 2025, Barfoot & Thompson had 6,268 properties on their books. This represents the largest number of listings in 15 years. This abundance of inventory provides buyers with a wide range of options to choose from. The month-end stock increased by 4.5% from the 5,997 properties in February 2025 and by 14.2% from the three-month average of 5,491 properties. Compared to March 2024, when 5,741 properties were in stock, there is a 9.2% increase in month-end stock in March 2025.
Strong Sales Across All Price Segments
The increased sales activity was not limited to a specific price range; it was strong across all segments of the market. Notably, there was a significant rise in sales at the upper end of the market. Barfoot & Thompson sold 28 homes for more than $3 million in March, the highest number in a single month for three years. Additionally, 61 properties were sold in the price range of $2 to $3 million.
Rural and Lifestyle Market Gains Momentum
The rural and lifestyle markets in Northland and the Auckland region also experienced a significant increase in sales activity during March. The total value of sales in these markets reached close to $65 million across 39 properties. While the turnover in these markets was up 48 percent compared to February, it was in line with the turnover observed at the same time last year.
Peter Thompson’s Summary of the Market Surge
Reiterating the positive momentum, Peter Thompson emphasized the strength of the recovery: “We sold 1,213 properties in March, and you need to go back to July 2021, when the market was just off its peak, to find a month when we sold more homes. There was also a marked increase in sales prices during the month, with the median price increasing by 4.3 percent to $970,000 and the average price by 3.4 percent to $1,145,045. The momentum in the market has been slowly building since the start of the year, and with marginally better economic news in March confidence in the housing market lifted.”
Key Market Statistics at a Glance (March 2025 vs. Previous Periods):
- Number of Sales: 1,213
- vs. Previous Month: +77.1% (685)
- vs. Previous 3-Month Average: +64.1% (739)
- vs. March 2024: +14.3% (1,061)
- Total Value of Sales: $1,388,940,064.00
- Average Price: $1,145,045
- vs. Previous Month: +3.4% ($1,107,006)
- vs. Previous 3-Month Average: +2.6% ($1,115,638)
- vs. March 2024: -6.7% ($1,227,495)
- Median Price: $970,000
- vs. Previous Month: +4.3% ($930,000)
- vs. Previous 3-Month Average: +1% ($960,000)
- vs. March 2024: -7.6% ($1,050,000)
- New Listings: 2,103
- vs. Previous Month: +1.4% (2,073)
- vs. Previous 3-Month Average: +49.4% (1,405)
- vs. March 2024: +7.7% (1,952)
- Month-End Stock: 6,268
- vs. Previous Month: +4.5% (5,997)
- vs. Previous 3-Month Average: +14.2% (5,491)
- vs. March 2024: +9.2% (5,741)
Conclusion: A Turning Tide for Auckland Housing?
The March 2025 Auckland Housing Market Update from Barfoot & Thompson paints a picture of significant revitalization. The substantial increase in sales volume, coupled with rising prices and a boost in market confidence, suggests that the long-awaited recovery may indeed be underway. While prices are still below last year’s levels, the strong activity and high buyer choice indicate a dynamic market. The record-high inventory provides ample opportunities for buyers, and the robust sales across all price segments, including the top end, underscore the breadth of this positive shift. The performance of the rural and lifestyle markets further contributes to this overall positive outlook. Whether this momentum will be sustained remains to be seen, but the data from March 2025 offers a compelling narrative of a market on the rise.
About Barfoot & Thompson
Barfoot & Thompson is recognized as Auckland’s leading real estate company, responsible for approximately one in three residential home sales in the city, significantly outpacing its competitors.
Barfoot & Thomspon March 2025 Auckland Housing Market Update
| Time period | Number of sales* | Total value of sales |
|---|---|---|
| March 2025 | 1,213 | $1,388,940,064.00 |
| March 2024 | 1,061 | $1,302,372,338.00 |
| 12 months to March 2025 | 10,480 | $12,015,286,181.00 |
| 12 months to March 2024 | 9,194 | $10,302,299,239.00 |
*Includes Barfoot & Thompson Auckland residential sales that have gone unconditional. Excludes Northland and commercial sales.
| March 2025 | Previous Month | Previous 3 Month Average | March 2024 |
|---|---|---|---|
| Average Price $1,145,045 | $1,107,006 +3.4% | $1,115,638 +2.6% | $1,227,495 -6.7% |
| Median Price $970,000 | $930,000 +4.3% | $960,000 +1% | $1,050,000 -7.6% |
| Sales 1,213 | 685 +77.1% | 739 +64.1% | 1061 +14.3% |
| New Listings 2,103 | 2,073 +1.4% | 1,405 +49.4% | 1,952 +7.7% |
| Month-End Stock 6,268 | 5,997 +4.5% | 5,491 +14.2% | 5,741 +9.2% |
Released on behalf of Barfoot & Thompson by Network Communication (Sandy Trigg)
For further information, contact Peter Thompson, Director, Barfoot & Thompson.
March 2025 residential sales report
Sales volumes by focus area
| Focus Area | March 2025 | March 2024 | 12 months to March 2025 | 12 months to March 2025 |
| Central Auckland | 30 | 20 | 283 | 231 |
| Central Auckland East | 105 | 90 | 769 | 614 |
| Central Auckland West | 22 | 22 | 219 | 188 |
| Eastern Suburbs | 106 | 104 | 839 | 637 |
| Franklin/Manukau Rural | 83 | 64 | 700 | 598 |
| Islands of the Gulf | – | – | 5 | 1 |
| North Shore | 198 | 172 | 1,584 | 1,306 |
| Northland | 34 | 36 | 358 | 270 |
| Pakuranga/Howick | 132 | 111 | 1,144 | 1077 |
| Rodney | 65 | 57 | 696 | 634 |
| South Auckland | 214 | 191 | 2,012 | 1,708 |
| West Auckland | 232 | 194 | 1,965 | 1,819 |
Average sale price by focus area
| Focus Area | March 2025 | March 2024 | 12 months to March 2025 | 12 months to March 2024 |
|---|---|---|---|---|
| Central Auckland | $1,332,369 | $623,765 | $642,400 | $648,345 |
| Central Auckland East | $1,401,864 | $1,437,120 | $1,335,975 | $1,208,389 |
| Central Auckland West | $1,457,619 | $1,662,569 | $1,426,346 | $1,237,351 |
| Eastern Suburbs | $977,716 | $1,822,827 | $1,360,891 | $1,334,402 |
| Franklin/Manukau Rural | $1,348,536 | $1,061,095 | $1,007,398 | $985,248 |
| Islands of the Gulf | – | – | $775,600 | $615,000 |
| North Shore | $857,162 | $1,359,436 | $1,241,743 | $1,249,530 |
| Northland | $1,290,697 | $862,231 | $924,364 | $853,409 |
| Pakuranga/Howick | $1,310,384 | $1,285,866 | $1,284,437 | $1,256,885 |
| Rodney | $859,246 | $1,449,489 | $1,143,744 | $1,190,423 |
| South Auckland | $897,033 | $915,304 | $887,092 | $881,298 |
| West Auckland | $643,973 | $1,012,173 | $912,072 | $955,518 |
Sales volume by the number of bedrooms
| Focus Area | 0 | 1 | 2 | 3 | 4 | 5+ |
|---|---|---|---|---|---|---|
| Central Auckland | 11 | 16 | 1 | 1 | ||
| Central Auckland East | 1 | 3 | 14 | 39 | 31 | 15 |
| Central Auckland West | 4 | 2 | 9 | 7 | ||
| Eastern Suburbs | 2 | 4 | 23 | 35 | 29 | 11 |
| Franklin/Manukau Rural | 6 | 8 | 20 | 24 | 7 | |
| Islands of the Gulf | – | – | – | – | – | – |
| North Shore | 12 | 2 | 25 | 65 | 56 | 31 |
| Northland | 4 | 2 | 9 | 8 | ||
| Pakuranga/Howick | 7 | 13 | 41 | 38 | 32 | |
| Rodney | 4 | 4 | 26 | 12 | 12 | |
| South Auckland | 7 | 4 | 22 | 104 | 45 | 28 |
| West Auckland | 40 | 38 | 79 | 50 | 22 | |
| Total | 83 | 28 | 167 | 428 | 300 | 159 |
Average sales price by the number of bedrooms
| Focus Area | 0 | 1 | 2 | 3 | 4 | 5+ |
|---|---|---|---|---|---|---|
| Central Auckland | – | $ 383,109 | $ 567,938 | $ 198,000 | $ 4,500,000 | |
| Central Auckland East | $ 5,700,000 | $ 601,667 | $ 817,700 | $ 1,142,190 | $ 1,632,597 | $ 2,168,667 |
| Central Auckland West | – | $ 452,750 | $ 1,350,000 | $ 1,661,667 | $ 1,625,000 | – |
| Eastern Suburbs | $ 852,500 | $ 575,500 | $ 895,417 | $ 1,500,900 | $ 1,881,552 | $ 2,446,546 |
| Franklin/Manukau Rural | $ 346,377 | – | $ 589,063 | $ 738,450 | $ 945,954 | $ 1,087,286 |
| Islands of the Gulf | – | – | – | – | – | – |
| North Shore | $ 968,210 | $ 578,750 | $ 822,820 | $ 1,158,084 | $ 1,527,643 | $ 1,902,939 |
| Northland | $ 502,000 | – | $ 675,000 | $ 799,833 | $ 975,000 | – |
| Pakuranga/Howick | $ 871,938 | – | $ 774,077 | $ 1,112,085 | $ 1,403,105 | $ 1,705,656 |
| Rodney | $ 754,065 | – | $ 706,250 | $ 1,041,892 | $ 1,461,208 | $ 1,779,667 |
| South Auckland | $ 614,931 | $ 411,557 | $ 828,508 | $ 798,131 | $ 999,133 | $ 1,088,536 |
| West Auckland | $ 473,637 | – | $ 802,647 | $ 894,646 | $ 1,066,130 | $ 1,441,909 |
| Total Average | $ 668,429 | $ 461,997 | $ 790,887 | $ 1,018,318 | $ 1,339,071 | $ 1,689,825 |
Groups with less than two sales in the month have been removed. Carparks have also been removed.
Auckland median price
| Month | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Jan | $830,000. | $827,500. | $885,000. | $975,000. | $1,180,000. | $1,000,000. | $966,500. | $950,000. |
| Feb | $820,000. | $801,000. | $820,000. | $1,010,000. | $1,122,500. | $1,023,000. | $970,000. | $930,000. |
| Mar | $860,000. | $836,000. | $925,000. | $1,048,000. | $1,180,000. | $1,025,000. | $1,050,000. | $970,000. |
| Apr | $830,000. | $830,000. | $900,000. | $1,050,000. | $1,141,000. | $995,000. | $1,007,500. | |
| May | $820,000. | $850,000. | $914,000. | $1,072,800. | $1,125,000. | $955,000. | $1,011,900. | |
| Jun | $810,000. | $845,000. | $910,000. | $1,109,000. | $1,147,500. | $995,000. | $1,020,000. | |
| Jul | $810,000. | $800,500. | $890,000. | $1,101,000. | $1,110,000. | $950,000. | $970,000. | |
| Aug | $840,000. | $830,000. | $911,500. | $1,130,000. | $1,111,000. | $982,500. | $952,500. | |
| Sep | $835,000. | $850,000. | $930,000. | $1,100,000. | $1,064,000. | $987,000. | $934,500. | |
| Oct | $860,000. | $845,000. | $967,400. | $1,150,000. | $1,092,500. | $1,011,250. | $955,000. | |
| Nov | $850,750. | $891,000. | $974,000. | $1,240,000. | $1,065,000. | $1,018,000. | $1,011,000. | |
| Dec | $875,000. | $865,000. | $1,005,000. | $1,235,000. | $1,067,500. | $1,040,000. | $1,000,000. |
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FAQ: Auckland Housing Market in March 2025
What is the main takeaway from the March 2025 Auckland Housing Market Update by Barfoot & Thompson?
The primary conclusion is that the Auckland housing market experienced a significant recovery in March 2025. This is evidenced by the highest number of sales in a single month in over three years (since July 2021) and the highest prices seen this calendar year. Peter Thompson, Managing Director of Barfoot & Thompson, explicitly stated that the “long-anticipated housing market recovery finally arrived in March.”
How did sales volumes and prices change in March 2025 compared to previous periods?
Sales volumes saw a dramatic increase, with 1,213 properties sold in March 2025, a 77.1% increase compared to the 685 sales in February 2025 and a 14.3% increase compared to the 1,061 sales in March 2024. Both median and average prices also rose in March 2025. The median price increased by 4.3% to $970,000 compared to February 2025 ($930,000), and the average price increased by 3.4% to $1,145,045 compared to February 2025 ($1,107,006). However, both the median and average prices remain below those of March 2024.
What factors are believed to have contributed to the improved market conditions in March 2025?
The report suggests that improved buying conditions, coupled with marginally better economic news in March, led to increased confidence in the housing market. This increased confidence likely spurred greater activity from both buyers and sellers.
How did the number of new listings and total housing stock change in March 2025?
New listings saw a slight increase in March 2025, with 2,103 new properties coming onto the market, a 1.4% increase compared to the 2,073 new listings in February 2025 and a 7.7% increase compared to the average of the previous three months (1,952). Despite the high sales volume, the total number of properties on Barfoot & Thompson’s books at the end of March reached 6,268, the highest level in 15 years.
Was the increase in sales activity uniform across all price segments in Auckland?
No, while sales activity was strong across all price segments, there was a notable increase in sales at the top end of the market. Specifically, 28 homes were sold for more than $3 million, the highest number in a month for three years, and an additional 61 properties sold between $2 million and $3 million.
What trends were observed in the rural and lifestyle property markets in March 2025?
Sales activity in the rural and lifestyle markets in Northland and the Auckland region also experienced a significant increase in March. The total value of sales reached close to $65 million across 39 properties. While turnover was up significantly (48%) compared to February, it was in line with the turnover observed during the same period last year.
Despite the positive trends, what caution does the report advise for buyers?
Despite the increased sales numbers and modestly higher prices, the report notes that buyers continued to be cautious. Furthermore, while prices were at their highest this calendar year, the prices being paid still remain below where they were at the same time last year. This suggests buyers are still price-sensitive and the market hasn’t fully returned to previous peak levels.
What does Barfoot & Thompson’s market share indicate about their perspective on the Auckland housing market?
Barfoot & Thompson highlights that they sell around one in three Auckland residential homes, significantly more than any competitor. This substantial market share suggests that their data and analysis provide a comprehensive and reliable overview of the overall trends and dynamics within the Auckland housing market.
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