Property listings at a 12-year October high: what it means for you
More homes are for sale in New Zealand than in any October since 2014, and asking prices have dipped. That was first reported by RNZ, using data from Realestate.co.nz. If you are buying, you have more choice and a little more room to negotiate. If you are selling, you face more competition.
What happened
Realestate.co.nz says there were 37,433 homes on the market nationally in October. RNZ reported these changes compared with a year earlier:
- Available stock rose 11.4 percent.
- Asking prices fell 2.7 percent nationally.
- New listings fell 4.5 percent.
- Auckland stock rose 14.1 percent to 15,046 properties, while new listings there fell 7.9 percent.
- Gisborne (up 31.4 percent), Taranaki (up 21 percent) and Marlborough (up 18.2 percent) saw the biggest stock rises.
- Southland was the only region with a notable fall in stock, down 5.3 percent to 437 properties.
The share of homes sold by auction was the lowest in seven years. Realestate.co.nz chief executive Sarah Wood said auctions tend to be more popular when buyer demand is stronger. She also said the timing of this year's election, and global uncertainty, may be holding some sellers back. The general election is on Saturday 7 November 2026, according to vote.nz.
What it means for you
- First-home buyers: More choice means you can take your time. You may not need to rush into the first place you see.
- Buyers with a deposit ready: Falling asking prices and fewer auctions can make negotiating easier. Fewer buyers competing helps you.
- Sellers: Expect more competition from other listings. Pricing realistically matters more when buyers have lots to compare.
- Renters thinking about buying: The market is moving in your favour a little, but your own budget still decides what is safe.
- Southland and similar tight markets: Stock fell in Southland, so buyers there may see less choice than the national picture suggests.
These are national and regional averages. Your suburb, and the type of home you want, may look quite different.
How it works out
A 2.7 percent fall in asking prices is a national average, not a promise about any one house. Here is what it looks like on a round number.
Asking price a year ago: $800,000 Fall of 2.7 percent: $800,000 x 0.027 = $21,600 Asking price now: $800,000 - $21,600 = $778,400
If you borrowed 80 percent of that price, the loan would be $778,400 x 0.80 = $622,720. On the old price it would have been $640,000. That is $17,280 less to borrow. Actual sale prices can differ from asking prices, so check recent sales near you.
What to do now
- Look at recent sales and current listings in your target area, not just national figures. Sites like Realestate.co.nz and council rating data help.
- Check your numbers before you commit. The rent or buy planner and our rent or buy guide can help you compare.
- If you are a first-home buyer, see whether you qualify for a withdrawal in our KiwiSaver first home guide.
- Get a pre-approval from your bank or broker so you know your limit before you make an offer.
- If you are selling, ask agents how many similar homes are listed nearby and price against them.
Common questions
Does more stock mean prices will keep falling?
Not necessarily. Stock and asking prices are one snapshot. Ms Wood said it will be interesting to see how much new stock arrives in coming months and how fast homes sell. Those two things will shape what happens next.
Why are new listings down if stock is up?
New listings are homes that came on the market in the month. Stock is everything for sale at that time. Homes that are not selling stay listed, so stock can climb even when fewer new homes arrive.
Can I use KiwiSaver for a deposit?
Possibly. Kāinga Ora says you generally need to have been in KiwiSaver for at least three years. At least $1,000 must stay in your account, and you must plan to live in the home. Apply through your KiwiSaver provider.
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Last reviewed 6 November 2026. Written in our own words by Streetwise from the news story and official pages listed above. General information only, not legal or financial advice.