{"id":357654,"date":"2026-04-01T00:00:21","date_gmt":"2026-04-01T00:00:21","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/357654\/"},"modified":"2026-04-01T00:00:21","modified_gmt":"2026-04-01T00:00:21","slug":"housing-market-loses-momentum-in-march","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/357654\/","title":{"rendered":"Housing market loses momentum in March"},"content":{"rendered":"

The housing market shifted down a cog from top gear in February to neutral in March, according to property website Realestate.co.nz.<\/p>\n

“Sellers have put their foot on the brakes,” Realestate.co.nz said in its March report.\u00a0<\/p>\n

“After gaining momentum in February, the property market sat idle in March,” it said.<\/p>\n

The website received 12,055 new listings in March. That’s down slightly (-1.6%) from the 12,252 it received in February, and also also barely changed (+0.2%) from the 12,029 new listings it received in March last year.<\/p>\n

Yet despite new listings remaining flat in March, the total number of properties available for sale on the website was at its highest level in 11 years.<\/p>\n

Realestate.co.nz had 37,638 residential properties available for sale at the end of March, up 3.5% compared to the end of February. That means the total amount of stock available for sale on the website is at its highest level since March 2015.<\/p>\n

This suggests the so-called buyer’s market has remained firmly in place throughout the summer sales period, with February and March traditionally being the busiest months of the year for residential real estate.<\/p>\n

Vendors may be starting to feel the sting of the buyer’s whip, with the average asking price on Realestate.co.nz dropping to $887,162 in March from\u00a0$898,677 in February, a decline of $11,515 for the month.<\/p>\n

The biggest decline in average asking price for the month was in the Central North Island, including Taupo, where the average asking price declined by $82,078 for the month, followed by Bay of Plenty down $64,863 and Southland down $54,991.<\/p>\n

The only regions where average asking prices increased in March from February were Northland, Coromandel, Hawke’s Bay, West Coast and Central Otago\/Lakes.<\/p>\n

However, while vendors may be finding conditions more challenging, the current market could provide opportunities for buyers.<\/p>\n

“We may have seen sellers hit pause on listings last month, but for buyers searching for the perfect property it is still a good time to be looking, with lots of options on the market,” Realestate.co.nz spokesperson Vanessa Williams said.<\/p>\n

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