Nationally, average selling prices sat just 0.6% below asking prices
Average selling prices across New Zealand were $5,324, or 0.6%, below average asking prices over the past year, but the gap varied widely by region, according to realestate.co.nz.
The analysis compared average asking prices on the property portal with average selling prices reported by the Real Estate Institute of New Zealand (REINZ) between October 2025 and September 2026.
Nationally, the average asking price was $830,022, against an average selling price of $824,698. The figures are regional and national averages from two datasets, not the gap on individual homes.
Vanessa Williams (pictured), general manager of customer at realestate.co.nz, said the narrowness of the gaps stood out, with no region showing a difference of more than 5%.
“That’s a surprisingly small difference and a useful reminder that asking prices remain a credible starting point for negotiations,” she said.
Coromandel shows the widest gap
Average selling prices fell short of asking prices in 12 of the 19 regions analysed.
Coromandel recorded the biggest gap, with an average selling price of $969,696, about 4.5% or $45,900 below the average asking price of $1,015,592.
Wairarapa (3.4%), the Central North Island (2.8%), and both Auckland and Bay of Plenty (2.1%) followed. In Auckland, the gap equated to roughly $24,000, with asking prices averaging $1.129 million against sale prices of $1.105 million.
“For many buyers, deciding what to offer can feel like a guessing game,” Williams said.
Some regions sell above asking
Seven regions recorded average selling prices above asking. Central Otago/Lakes District led the way, with an average sale price of $1,441,503, about $30,000 or 2.1% above the average asking price of $1,411,460. It was also the country’s most expensive region.
Canterbury (1.7%), Southland (1.6%), the West Coast (1%), and Wellington (0.9%) also sold above asking on average. The West Coast remained the most affordable region, with an average selling price of $482,000.
The split broadly echoes REINZ’s latest figures, which showed every South Island price index rising over the year to September 2026 while all North Island measures fell.
Williams said the results show buyers should not assume offering under asking is standard everywhere.
“It’s about doing your homework,” she said, encouraging buyers to look at comparable sales, understand their local market, and seek professional advice.
For borrowers, costs may also shape offers in the months ahead, with most major banks expecting the official cash rate to rise on 28 October.
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