New Zealand's median dwelling value was $812,195 at the end of March, the highest it has been since June last year, according to the CoreLogic Home Value Index.
The median value increased by 0.48% in March following a 0.4% increase in February and a flat result in January. However, the March median value was still down 16.3% compared to its January 2022 peak, and down 2.95% compared to March last year.
"The latest figures confirm that the market is now into its next phase of growth, on the back of lower interest rates and improved affordability on the back of previous value falls," CoreLogic said.
"The falls in mortgage rates since around July or August last year were always going to take a little bit of time to flow through to house prices, given the weak economic environment and subdued household confidence," CoreLogic Chief Property Economist Kelvin Davidson said.
"The abundance of listings has been an extra limiting factor for property values, while some households on fixed interest rates from a year ago have also had to be patient before seeing their debt repayments drop," he said.
"But the lags have now worked their way through the system, and with signs becoming clearer that the economy has started to turn a corner, confidence is returning to the property market," Davidson said.
The table below shows CoreLogic's March median value in all urban districts throughout the country and the change over one, three and 12 months.
| CoreLogic Hedonic Home Value Index | ||||
| March 2025 | ||||
| Median Value | Monthly Change | Quarterly Change | Annual Change | |
| All of New Zealand | $812,195 | 0.48% | 0.88% | -2.95% |
| Major Cities | ||||
| Auckland | $1,083,902 | 0.65% | 1.20% | -4.13% |
| Christchurch City | $673,849 | 0.77% | 1.72% | 1.00% |
| Dunedin | $605,842 | -0.06% | -0.05% | -1.18% |
| Hamilton | $759,002 | 0.94% | 2.07% | 0.55% |
| Tauranga | $905,994 | 0.04% | -0.02% | -2.93% |
| Wellington | $796,678 | 0.27% | -0.01% | -7.06% |
| Regions | ||||
| Auckland | $1,083,902 | 0.65% | 1.20% | -4.13% |
| Bay of Plenty | $838,748 | 0.15% | -0.03% | -2.27% |
| Canterbury | $693,286 | 0.63% | 1.36% | 0.38% |
| Gisborne | $588,429 | 0.17% | 0.49% | -7.46% |
| Hawkes Bay | $699,600 | 0.18% | 0.59% | -3.60% |
| Manawatu-Wanganui | $542,202 | 0.19% | 0.30% | -3.02% |
| Northland | $706,763 | 0.36% | 0.43% | -3.95% |
| Otago | $692,644 | 0.07% | 0.42% | 1.88% |
| Southland | $479,123 | -0.07% | 0.21% | 2.27% |
| Taranaki | $629,250 | 0.06% | 0.56% | -0.98% |
| Tasman Nelson Marlborough | $750,603 | 0.45% | 0.18% | -0.72% |
| Waikato | $788,378 | 0.56% | 1.13% | -2.11% |
| Wellington | $785,587 | 0.43% | 0.33% | -6.40% |
| West Coast | $427,908 | -0.05% | 1.09% | -0.09% |
| Districts | ||||
| Far North District | $629,535 | -0.80% | -1.11% | -6.62% |
| Whangarei District | $720,241 | 0.53% | 0.62% | -2.02% |
| Kaipara District | $825,285 | 1.81% | 2.74% | -4.59% |
| Auckland - Rodney | $1,220,282 | 0.34% | 1.04% | -4.84% |
| Auckland - North Shore | $1,315,449 | 0.95% | 1.18% | -1.44% |
| Auckland - Waitakere | $940,497 | 0.66% | 0.79% | -4.10% |
| Auckland - Central | $1,186,109 | 0.62% | 1.55% | -4.99% |
| Auckland - Manukau | $1,006,516 | 0.60% | 0.64% | -4.78% |
| Auckland - Papakura | $852,578 | 0.76% | 1.59% | -3.99% |
| Auckland - Franklin | $951,308 | 0.50% | 2.28% | -2.27% |
| Thames-Coromandel District | $979,423 | 0.43% | 1.27% | -5.45% |
| Hauraki District | $638,852 | 0.08% | 0.71% | -5.66% |
| Waikato District | $928,289 | 0.83% | 0.89% | -2.94% |
| Matamata-Piako District | $688,464 | 0.73% | 0.48% | -2.42% |
| Hamilton City | $759,002 | 0.94% | 2.07% | 0.55% |
| Waipa District | $883,162 | 0.22% | 0.04% | -2.78% |
| Otorohanga District | $628,496 | 0.13% | 0.91% | -5.17% |
| South Waikato District | $425,594 | -0.01% | -0.17% | -4.11% |
| Waitomo District | $446,093 | -0.57% | -0.83% | -6.08% |
| Taupo District | $820,324 | -0.10% | 0.60% | 0.21% |
| Western Bay of Plenty | $1,037,590 | 0.13% | -0.36% | -2.54% |
| Tauranga City | $905,994 | 0.04% | -0.02% | -2.93% |
| Rotorua District | $625,987 | 0.49% | 0.56% | 0.20% |
| Whakatane District | $752,849 | 0.23% | -0.47% | -2.10% |
| Kawerau District | $409,748 | 0.27% | 1.29% | -1.46% |
| Opotiki District | $576,665 | 0.22% | -0.90% | -2.23% |
| Gisborne District | $588,429 | 0.17% | 0.49% | -7.46% |
| Wairoa District | $571,238 | -0.53% | -3.48% | -12.11% |
| Hastings District | $718,383 | 0.27% | 0.60% | -3.91% |
| Napier City | $716,964 | 0.14% | 1.08% | -2.65% |
| Central Hawke's Bay | $601,248 | 0.06% | -0.67% | -4.18% |
| New Plymouth District | $700,067 | 0.05% | 0.52% | -0.45% |
| Stratford District | $509,453 | -0.09% | 0.51% | -3.17% |
| South Taranaki District | $410,500 | 0.26% | 0.82% | -3.33% |
| Ruapehu District | $385,333 | -0.05% | -1.07% | -3.83% |
| Whanganui District | $504,787 | 0.80% | 1.63% | 1.37% |
| Rangitikei District | $436,456 | 0.25% | 0.12% | -5.93% |
| Manawatu District | $615,780 | 0.30% | 0.69% | -3.17% |
| Palmerston North City | $604,662 | 0.13% | 0.24% | -3.45% |
| Tararua District | $436,598 | 0.19% | 2.13% | -3.20% |
| Horowhenua District | $521,405 | -0.26% | -1.23% | -5.43% |
| Kapiti Coast District | $824,293 | 1.38% | 2.40% | -2.89% |
| Porirua City | $747,440 | 0.58% | -0.45% | -3.99% |
| Upper Hutt City | $715,155 | -0.17% | -0.26% | -6.09% |
| Lower Hutt City | $702,987 | 0.25% | 0.57% | -5.99% |
| Wellington City | $883,283 | 0.30% | -0.10% | -8.25% |
| Masterton District | $544,639 | -0.12% | -0.18% | -4.16% |
| Carterton District | $679,206 | 0.94% | 1.26% | -7.16% |
| South Wairarapa District | $775,243 | 0.92% | 0.69% | -6.05% |
| Tasman District | $843,625 | 0.75% | 0.39% | -0.58% |
| Nelson City | $728,142 | -0.10% | -0.63% | 0.42% |
| Marlborough District | $681,993 | 0.70% | 0.81% | -1.92% |
| Kaikoura District | $802,896 | 0.95% | 1.41% | 6.82% |
| Buller District | $378,491 | -1.11% | 0.42% | -2.15% |
| Grey District | $431,325 | 0.34% | 1.29% | -0.01% |
| Westland District | $492,141 | 0.45% | 1.40% | 1.78% |
| Hurunui District | $724,835 | 0.57% | 1.53% | 0.65% |
| Waimakariri District | $763,572 | 0.54% | 0.97% | -0.61% |
| Christchurch City | $673,849 | 0.77% | 1.72% | 1.00% |
| Selwyn District | $864,253 | 0.43% | 0.49% | -1.38% |
| Ashburton District | $556,100 | 0.00% | 0.12% | 0.86% |
| Timaru District | $524,985 | 0.35% | 1.47% | 0.27% |
| Mackenzie District | $705,818 | 0.57% | 1.35% | 0.30% |
| Waimate District | $490,971 | 0.36% | 0.39% | -3.58% |
| Waitaki District | $487,460 | 0.78% | 2.13% | 2.86% |
| Central Otago District | $864,090 | 0.36% | 0.76% | 1.10% |
| Queenstown-Lakes District | $1,677,567 | 0.09% | 0.63% | 4.75% |
| Dunedin City | $605,842 | -0.06% | -0.05% | -1.18% |
| Clutha District | $388,866 | -1.58% | -1.86% | -1.41% |
| Southland District | $550,392 | -0.02% | -0.98% | 1.51% |
| Gore District | $425,353 | -0.44% | -0.10% | 1.32% |
| Invercargill City | $471,180 | -0.03% | 0.76% | 2.70% |
6 Comments
The data from the best selling quarter in the year does not support 'The latest figures confirm that the market is now into its next phase of growth'
Spec town...now is the time to triple down and max out mortgages. Spread all over the show to avoid your exposure being seen by one bank. Go for it !!!!!!!
Popcorn
Apparently 'Cotality' is their name now 😬
They may need to remove the term 'logic' from their brand at this point.
As above, they are...
For other Rainbow news google Benjamin Doyle
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.