Gisborne sees 28.2% year-on-year increase in January house prices

Gisborne was at the top or close to it on the list, based on the percentage increase the region saw for some house-sale metrics in January 2025 compared to January 2024.

The latest figures from the Real Estate Institute of New Zealand (REINZ) for January 2025 revealed Gisborne was the region with the highest increase in median house prices compared to January 2024.

The region saw a relative increase of 28.2% from $515,000 to $660,000. This was followed by Nelson with a 25.4% increase from $670,000 to $840,000.

Gisborne had the third-highest increase in listings of the regions, a 45.7% increase when comparing January 2024 with January 2025.

“First-home buyers and investors were the most active in Gisborne,” REINZ chief executive Jen Baird said in the report.

“Open-home attendance levels increased significantly, with new listings attracting double the average number of attendees.”

“Local salespeople predict that activity will pick up in the next few months, with increased sales volumes and days-to-sell trending down.”

In Gisborne, 19 houses were sold in January 2025, compared with 14 in January 2024.

The median price for New Zealand decreased slightly, down 1.7% from $763,000 to $750,000 year-on-year. Excluding Auckland, the median price increased 0.9% year-on-year, rising from $685,000 to $691,500.

REINZ price data is unconditional sales data according to REINZ, which means it is drawn from when the house price is locked in.