New Zealand home prices dip in January, holiday lull hits demand

[SYDNEY] New Zealand home prices dipped in January as seasonal holiday patterns dampened demand and unusual severe weather across parts of the North Island disrupted activity, the Real Estate Institute of New Zealand (REINZ) said on Monday.

Seasonally adjusted median house prices fell 1.2 per cent from December, but nudged 0.4 per cent higher on the previous year, REINZ data showed. National home sales slumped 8.9 per cent from December and were 0.6 per cent lower from January 2025.

“Interpreting the market over the summer can be challenging, as activity between November and February often reflects seasonal patterns rather than fundamental shifts,” REINZ chief executive Lizzy Ryley said in a statement.

Ryley said once seasonal trends were taken into account, prices remained broadly stable in January, suggesting buyer confidence was rebuilding gradually rather than accelerating quickly. REUTERS