September residential and lifestyle insights

After a quiet start to the year, the Manawatū-Whanganui property market is showing clear signs of activity as momentum builds. Data released by the Real Estate Institute of New Zealand (REINZ) in the September 2025 Property Report shows that nationwide sales counts increased, while the national median price eased slightly compared to September 2024.

Across the Manawatū-Whanganui region, residential sales activity recorded several key highlights. The median price has risen 8% year-on-year, now sitting at $540,000, while the region has also recorded six consecutive months of year-on-year declines in days to sell. Notably, Manawatū-Whanganui, Nelson, and Tasman each achieved their lowest September median days to sell since 2020.

Source: Real Estate Institute of New Zealand (REINZ) – September 2025 Property Report.

Across the region, a clear seasonal shift is underway. Confidence is building in the residential and lifestyle property markets as lower interest rates and improved buyer sentiment drive a more active spring. First-home buyers and owner-occupiers are leading activity, with well-priced properties selling quickly. Appraisal requests are up, and more vendors are preparing to list, reflecting growing momentum.

The recent Reserve Bank cut to the Official Cash Rate, now at 2.5%, has helped stimulate the market. Home loan rates have begun to ease, and experts suggest they could soon drop into the low-4% range, or even the high-3s, should another cut occur in November, further supporting affordability and market confidence.

Attendance at open homes has increased, though some buyers remain cautious, taking time to compare options given the number of listings available. Enquiry in the lifestyle and small farm sectors remains steady, although some vendors are holding firm on expectations. Genuine buyer interest is evident, but many purchasers are still assessing value carefully before making their next move. Residential investment property activity has remained consistent, while realistically priced rental properties continue to attract solid tenant demand.

Overall, market confidence is rising across the region. With steady prices, growing buyer engagement, and improving affordability, momentum is building across most sectors. As spring progresses, all signs point to a strong summer property market ahead.

Spotlight: Ruapehu Region

In Ruapehu, enquiries are steadily increasing, with more buyers showing genuine intent compared to earlier in the year. Local purchasers, particularly first-home buyers, continue to drive much of the activity, and conditional offers are becoming more common. Buyers are paying closer attention to flooding and insurability, carrying out more thorough due diligence before committing to a purchase.

Disclaimer: The market data and insights provided relate to the geographic areas serviced by Bayleys Ruapehu, Bayleys Whanganui, Bayleys Taihape, Bayleys Marton, Bayleys Feilding, and Bayleys Palmerston North, and are not exhaustive of all suburbs within the wider Manawatū-Whanganui region. Figures are intended as a general indication of residential and lifestyle market trends only.