“The flatness reflects the fact that, for homeowners, this is still a tough sellers’ market,” Vaughan said.
“Buyer demand is up, but the large number of properties on the market is putting pressure on prices - for now.”
In Whanganui, 953 houses have been sold over the past 12 months.
Property Brokers Whanganui branch manager Vicky Todd said it was “a little bit quiet” in the housing market.
“Houses are still selling but they have to be very well presented,” Todd said.
“Our first-home buyer market is still busy. I think it’s just a seasonal thing and, as we start to warm up in weather, we’ll see the market start to warm up as well.”
Todd said there was a lower number of sales in June but, given the seasonal fluctuation, Whanganui was a “stable market”.
The majority of Whanganui suburbs are down in average price from the start of the year, except Castlecliff and St John’s Hill whose average rose 0.7% and 0.6%, respectively.
St John’s Hill has an average property value of $691,000.
Whanganui Central, which covers the CBD and stretches from Cullinane College to Hatrick St East, recorded a 3.3% decrease from the start of the year after being the best-performing suburb in 2024 with a 9.1% rise.
The average property value in Whanganui Central is $416,000, $14,000 less than at the start of the year.
Todd said the decrease for Whanganui Central reflected a fluctuating market.
“Markets fluctuate, be it suburbs, they all have their moment in the sun, then it goes back to being stable again,” she said.
Aramoho’s property value average is down 2.6%, Gonville is down 1.1% and Durie Hill is down 0.7%.
Whanganui East had no change from its average property value of $464,000.
Westmere remains the priciest suburb at $1.052 million and has recorded a 2.04% increase since January.
Bayleys Whanganui regional general manager Rachel Thompson said there were encouraging signs of momentum in the local property market.
“So far this calendar year, over 20% of our buyers have come from outside the region - a strong indication that Whanganui continues to attract attention from both investors and those looking to make a lifestyle move to our city,“ Thompson said.
“This steady interest is a great endorsement of the value and opportunity Whanganui offers.”
The Rangitīkei District is unchanged from the start of the year, with the average property value $492,000.
Marton’s property value has risen 2.7% since the start of the year to an average of $503,000.
Ruapehu has recorded a small 0.2% decrease since January and Ohakune is down 2.3% with an average value of $474,000.
Pātea’s average value has increased by 4%, up $12,000 to $315,000.
Thompson said the rest of the year was looking promising.
“We expect to see increased activity as more buyers and sellers re-enter the market,” she said.
“All signs are pointing toward a more active and positive period ahead, with Whanganui well-positioned to benefit.”
