Market Commentary - July 2025
Auckland Central Property Market Commentary – July 2025
Prepared by Chris Cairns | Cairns & Co - Ray White Auckland Central
Market Mood: A Pause Before the Push?
July brought a sense of strategic calm. Buyers are looking, but not rushing. Sellers are waiting, but not disengaged. With major infrastructure works nearing completion and financial pressure easing, we’re in a balancing zone.
“The market may look static, but activity is building underneath. Motivated vendors are adapting fast.”
— Lizzy Ryley, REINZ CEO
Auckland at a Glance
Median Price: $990,000 (down 3.4% year-on-year)
Sales Volume: 1,774 properties (up 17.8% year-on-year)
Median Days to Sell: 49 days (up 6 days year-on-year)
House Price Index: 3,318 (up 0.2% year-on-year)
Source: REINZ
City Centre Spotlight: The Bounce at the Bottom
The median sale price in Auckland Central hit $285,000 last month. That’s up 43 percent compared to July 2024, though still well below the $585,000 median recorded five years ago.
This dramatic shift is less a sign of value loss and more a reflection of what’s selling - leasehold titles, leaky buildings, and compact units under 38 sqm that often fall outside traditional bank lending criteria. These properties have dominated recent transactions and are pulling the median down.
That said, the recent cut to interest rates is already having an effect. We’re seeing more owner-occupiers and first-home buyers re-engage, drawn back in by improved bank lending conditions. Freehold, well-presented stock is now drawing more competitive interest, especially in the $500,000 to $800,000 range.
Interest Rates and Lending Sentiment
The Reserve Bank held the OCR steady at 3.25 percent in July. While no cut was delivered, the commentary suggested further easing may be required if activity continues to underwhelm.
“If activity continues to underperform, policy may need to adjust.”
– Reserve Bank of New Zealand, July 2025
Mortgage rates remain stable and slightly softer, which is lifting buyer confidence. Many are buying now in anticipation of future easing rather than waiting for it.
Safety and Liveability Just Got a Major Boost
Auckland Central’s safety credentials took a big step forward in July with the official opening of the new Federal Street Police Station, the first public-facing police base in the CBD since 2019.
Minister of Police Mark Mitchell and Acting Deputy Commissioner Jill Rogers cut the ribbon, calling it a long-overdue move for the country’s largest city. “It made no sense at all not having a central police station in our CBD,” said Mitchell.
The new base allows officers to respond on foot within minutes and deploy directly into high-traffic zones like Queen Street and Te Waihorotiu Station, which is expected to become New Zealand’s busiest train hub. Rogers confirmed that city foot patrols have already increased 91 percent since July 2024, with 51 active beat positions now covering the central city.
For residents, workers and property owners, this is a significant step forward in restoring day-to-day confidence and reinforcing the CBD as a safe, thriving place to live and invest.
Construction Resumes at Seascape Tower
After a year-long stall, Auckland’s tallest residential tower is officially back on track. Developer Shundi Customs has appointed Australian construction firm Icon Group to take over from the previous contractor, China Construction.
Located at 85 Custom Street East, the 56-storey Seascape tower had been paused since mid-2024. With Icon now on board and site activity resuming, momentum has returned to what will become New Zealand’s tallest residential building.
Infrastructure Progress: A City Under Construction
City Rail Link (CRL)
The tunnels are built, the tracks are laid, and testing is underway. Interior fit-outs, station infrastructure and control systems are now being installed across all four new underground stations.
While the official opening is still set for 2026, no firm date has been confirmed. Construction zones continue to disrupt midtown, especially around Wellesley, Albert and Victoria Streets.
Buyers are paying closer attention to proximity. Listings near Te Waihorotiu (Aotea), Karanga-a-Hape and Maungawhau (Mt Eden) are already attracting more serious interest.
Watch the latest progress update
City Rail Link – July 2025 video update
Watercare Works
More than $1 billion is being invested across Auckland this year alone as part of a larger $13.8 billion upgrade programme. Key projects affecting Auckland Central include:
Huia Watermain (completed May 2025) now supporting the CBD network
Midtown Wastewater Tunnel (Queen Street corridor) running until late 2026
Newmarket wastewater relining completing by September 2025
Central Interceptor Tunnel due for final commissioning in 2026
These works bring short-term disruption but long-term resilience. For central city apartments, especially those in older blocks, the added security around stormwater and wastewater management is becoming a quiet selling point.
Why Selling Now Makes Sense
Stock levels remain low, especially in the CBD and inner fringe. Buyers are active, but many vendors are holding back for spring. That creates a valuable window.
Campaigns running now are seeing solid private viewings and clean cash offers, even if open homes feel quieter. Well-presented listings with a point of difference are performing.
If you’re holding off for spring, consider that many of your competitors are doing the same.
Who’s Buying in Auckland Central?
Lock-and-leave buyers wanting a city pad without the maintenance
First-home buyers eager to get in before values shift
Downsizers ditching the lawns and gutters for high-rise simplicity
Across the board, convenience, walkability and lifestyle are now more valuable than square metres of land.
Final Thoughts
The city may feel paused on the surface, but momentum is quietly building.
Infrastructure is peaking. Borrowing power is improving. Buyer confidence is warming and with a new police station on the way, safety and liveability are getting a welcome boost.
For sellers, this is a moment of minimal competition and active demand. Listing now could mean standing out when others are still waiting.
Thinking ahead?
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