Stock levels stay elevated as buyers gain leverage in Auckland's market
Auckland residential sales reached their strongest June result in five years, even as prices continued their seasonal slide, according to Barfoot & Thompson's latest market update.
Sales rise as buyers gain the upper hand
Barfoot & Thompson recorded 890 residential sales in June, the highest for the month since 2021 and enough to make it the second-strongest sales month of the year so far.
Managing director Peter Thompson (pictured) said the result reflected a market favouring buyers.
"June's sales produced a modest increase in sales and a modest decrease in sales prices," Thompson said, adding that the figures pointed to "the market being in a state where buyers are active and vendors understand that with high levels of stock available for sale, they need to be realistic about sale price."
Both the median and average sale price fell 4% on May's figures, landing at $940,000 and $1,107,945 respectively, and were also down against June last year.
The softening isn't unique to Auckland — REINZ's most recent national data, for May, showed the House Price Index down 1.7% over three months, echoing the same buyer leverage behind Auckland's five-year sales high.
Entry-level and top-end properties both find demand
Buyer appetite wasn't confined to one segment of the market. Nearly a quarter of June's sales fell under $750,000, while the top end also performed strongly, with 67 sales above $2 million — the second-highest monthly tally this year. Sales in that upper bracket are running 5.3% ahead of last year.
New listings rose 3.8% on June 2025 to 1,458, keeping month-end stock at 6,037 properties, still 3.5% higher than the same time last year, giving buyers a comparatively wide pool of choice heading into winter.
A shifting backdrop for buyers
Firmer sales and easing prices point to continued opportunity for well-positioned buyers, particularly under $750,000 where competition remains strong.
That leverage comes against a shifting rate outlook — the RBNZ's cutting cycle has ended, with a hold expected on 8 July and hikes tipped from September.
Thompson also noted strong conditions in rural and lifestyle markets north, south, and west of Auckland, with more buyers than vendors and continued demand for kiwifruit properties and lifestyle blocks.
Stay informed with the latest housing market trends and mortgage insights — subscribe to our free daily newsletter.
