Southland’s property market continues to lead New Zealand in new listings growth, reflecting strong demand in the region. According to recent data, Southland experienced a 24.7% increase in new property listings last month compared to the same period last year, significantly outpacing the national average rise of 4.3%.

In contrast, Otago saw a more modest 5.5% year-on-year growth in new listings. Meanwhile, Central Otago and the Lakes District maintained the country’s highest average asking price at $1,605,575, marking a 6.5% increase from the previous year. Although this figure remains slightly below the all-time high of $1,666,075 recorded in May, it underscores the area’s continued appeal in the housing market. Nationally, the average asking price has stayed steady at $866,314.

Despite the increases in new listings, both Southland and Central Otago/Lakes District recorded notable declines in total stock available. Central Otago/Lakes District experienced the sharpest drop, with inventory falling 13.8% year-on-year in June, followed by Southland’s 9.7% decline. These reductions indicate persistent demand outstripping supply in these regions.

Sarah Wood, chief executive of realestate.co.nz, noted that market uncertainty has become commonplace but emphasized the ongoing necessity for property transactions. She pointed out that the current market conditions favor buyers who are prepared to act swiftly. “Stock is up across almost every region, which means buyers can be more considered in their decision-making,” Wood said. She also highlighted that first-home buyers, in particular, are taking advantage of favorable conditions by moving decisively in the market.

The data suggests that while new listings have increased nationally, tight supply in key regions continues to drive market activity and influence pricing, especially in Southland and Central Otago/Lakes District.