WATCH: Perspectives Property Report October 2025

Hi, I’m Mark Harris and welcome to the October edition of Perspectives.

A number of policy and economic changes have taken place recently that are creating a renewed sense of momentum as we head into the final quarter of 2025.

Let’s start with the numbers.

REINZ’s August figures show the national median holding steady at $761,000, down just half a percent year-on-year. But when you take Auckland out of the mix, the picture brightens: most regions recorded year-on-year price growth. Hawke’s Bay, Tasman, Nelson and Canterbury all posted increases in median house prices - some of the strongest stats we’ve seen in months. Waikato also stood out, with a 13.2% lift in sales volumes year-on-year.

Listing stock is climbing too, in line with expectations for the spring selling season.

Now to the wider economic and policy backdrop.

Lower interest rates are beginning to restore buyer confidence, especially among upsizers and first-home buyers, and with two more OCR cuts expected before year-end, banks are actively seeking business.

The government has also announced new streamlined pathways for skilled migrants to gain residence. That’s good news for the labour market, the economy and the property sector as a whole.

And perhaps most significantly, we’re expecting the long-awaited changes to the Active Investor Plus visa to be confirmed before Christmas.

This will allow qualifying international buyers to purchase or build a property in New Zealand at $5 million and above, injecting new energy at the top end of the market without impacting first-home buyers.

At New Zealand Sotheby’s International Realty, we’re already well positioned. We hold the largest share of $5M+ sales across most of our offices, and with our US website traffic more than doubling this year - along with reports that nearly half of AIP applicants are from the US - we know this demand is real. Our global network gives us direct access to 650 offices across the United States and their trusted client base, reach no other New Zealand agency can match. 

If you have a property you believe sits in the $5M+ bracket, now is the time to prepare. Get it appraised, ensure your marketing is in place and work with us to generate pre-market interest from offshore clients who’ve either anticipated this change or who already hold AIP visa approval.

Let’s take a look at some listings that are open to this cohort.

Slopehill Road is one of Queenstown’s best addresses and this residence lives up to the hype. Sitting on 3.45 ha of private land with 360 degree mountain views, the five bedroom home is crafted from blend of schist, cedar, and Corten steel.

And in Glendowie Auckland, this legacy property is the best mix of heritage and modern living. The six bedroom home boasts elegant architecture, land across two titles, a guest cottage and a priceless oceanfront location on Karaka Bay Beach. 

If a slower pace of life is what you are looking for, this Golden Bay home lets you take secluded, luxury living to the next level. Breathtaking ocean and hillside views are taken in from light airy living spaces and multiple decks. A masterful design sees the main house and cottage act as separate homes or one large residence.

That’s all from this month’s Perspectives, don’t forget to check out the latest edition of Property Style for standout listings, design inspiration, and expert perspectives.