Gisborne breaks $800k average asking price
The national average asking price held steady at $862,652, up 1.7% on a year earlier.
Gisborne bucked the trend with a 23.2% annual increase to reach an average asking price of $815,203 — its first time in the $800,000 bracket.
Six regions saw both annual and monthly asking price growth in August: Bay of Plenty, Coromandel, Gisborne, Manawatu/Whanganui, Northland, and Taranaki.
By contrast, Central North Island, Hawke’s Bay, and Otago recorded both monthly and annual declines, with Otago slipping under $600,000 for the first time since December 2024.
“Nationally, prices are steady, but seeing regions like Gisborne hit an all-time-high shows there’s still upward pressure in parts of the market,” Wood said. “At the same time, Otago dropping out of the $600,000 bracket reminds us how localised movements can be.”