Buyers hold the cards in most regions, but sellers still have power in some pockets

New Zealand’s property market is currently favouring buyers – but not everywhere. According to Trade Me’s latest figures, some parts of the country are shifting faster than others, with days on site and listing activity offering clues as to where buyers or sellers have the upper hand.

Nationwide, it’s taking about 70 days for the typical property to sell on Trade Me, which signals a relatively cool market. In addition, housing supply is up significantly, with 43,692 listings on the site in May – a 17.6% increase compared to the same time last year. “It's a classic buyer's market out there,” Trade Me said, “with more choice and less time pressure when you're looking for your next home”.

Some locations, however, are bucking the trend. In Fendalton (Christchurch), listings are down 34% year-on-year while listing views have surged 60%, with properties selling in an average of 34 days. This suggests strong buyer interest and limited supply – hallmarks of a seller’s market.

Similarly, Mount Victoria and Hataitai (both in Wellington City) are seeing properties move in under 45 days, with listings up but buyer demand also climbing. These conditions point to more competitive environments for buyers.

In contrast, suburbs like Cambridge (Waikato), Carterton and Masterton (both in the Wairarapa) are clearly buyer-friendly. Listings in these regions are sitting on the market for around 78–80 days, and buyer interest has either stagnated or declined, giving buyers more time to weigh up their options.

What is a buyer's market or a seller's market?

A buyer's market occurs when supply is relatively high and/or demand relatively low. This typically leads to greater choice, less competition and more negotiating power for buyers. Sellers may need to be more flexible on price or terms to secure a sale.

A seller's market, by contrast, arises when demand is high and/or supply is low. Homes tend to sell faster, sometimes with multiple offers, and buyers may need to act quickly and bid strongly to secure a property.

Regardless of market type, it’s essential to understand local dynamics before making a move. Real estate conditions can vary significantly not just by city but even by suburb.

Let’s chat if you need advice on structuring your mortgage in the current environment.