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NZ Housing Listings Hit a 12-Year High as Asking Prices Keep Falling
NZ house listings hit a 12-year July high and asking prices have fallen for 5 straight months. See what it means for buyers and sellers this spring.
Nurain Nadzirah
16 August 2026
Source : NZ Adviser
There are more homes on the market right now than any July since 2014 and asking prices have dropped for five months in a row.
If you've been waiting for a sign that conditions are shifting in buyers' favour, this is it.
July Listings Reach 12-Year High for July
At the end of July, there were 33,252 homes listed for sale on Realestate.co.nz, up 9.3% on the same time last year, and the highest total in 12 years.
Interestingly, this isn't because a flood of new sellers suddenly listed. New listings in July (7,698) were almost identical to last year (7,737).
What's actually happened is that stock has been quietly building up over time, faster than it's been selling.
Why this matters: more listings = more choice for buyers, and more competition among sellers to stand out.
NZ Asking Prices Fall for 5 Straight Months
Since February, average asking prices have fallen every single month, from $898,677 down to $828,345 in July. That's a drop of $70,322, or 7.8%, over five months.
It hasn't been a sudden crash, more of a steady slide. Which is actually useful. It means the trend is fairly predictable rather than jumpy, so it's easier to plan around.
In plain terms: if you're a seller pricing based on 2021 sale prices in your street, expect a longer wait. If you're a buyer, you've got more negotiating room than you've had in years.
Get your finances sorted before you list or start looking.
We'll walk you through your pre-approval and options for this spring's market.
What This Means for NZ Buyers and Sellers This Spring
Spring is usually when new listings pick up, and this year that extra stock is landing on top of an already well-supplied market. That likely means buyer-friendly conditions stick around for a while yet.
If you're planning to sell your current home to buy your next one, this cuts both ways:
• You may need to be realistic about what your current home will fetch • But you'll also be buying into a market where you have real leverage
Note: Banks are still expecting the OCR to move further this year. That's a detail worth factoring into your timing if you're planning to buy soon.
👉🏻 **Want to know exactly how to get move-ready? ** Read our step-by-step checklist: [4 Things to Do Before You List Your Home This Spring].
This article is for informational purposes only. It does not consider your personal financial situation or objectives. Please consult with Tella mortgage and financial experts before making any decisions regarding your mortgage or debt strategy.
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