Welcome to Key Real Estate's monthly Property Report. We are excited to present the latest updates on properties for sale in Rotorua, the Bay of Plenty, and nationwide. Let's take a look at the house price highlights below!

The median price for residential properties across the country has decreased by 1.7%, from $760,000 in January 2024 to $750,000 in January 2025. However, Bay of Plenty's median house price has increased by 7.6% to $845,000. In January, the Rotorua District's median house price was $600,000, a 6.3% decrease from last year. The median nationwide price, excluding Auckland, increased by 0.9% from $685,000 in January 2024 to $691,500 in January 2025. Furthermore, month-on-month prices showed a decrease in growth, down 1.9% across the country during January. Bay of Plenty's median house price was up 1.2% compared to December, and the Rotorua District decreased by $77,500.

Inventory levels continue to increase, up by 18.9% from January 2024. However, the Bay of Plenty inventory remained at 22 weeks, the same level as last year.

Jen Baird, REINZ CEO, noted, "First-home buyers and owner-occupiers were the most active buyer groups in the Bay of Plenty, with investors also returning to Rotorua. Most vendors are setting realistic price expectations to meet the market. Open-home attendance levels were strong, including for some properties that have been on the market longer. Auctions began once the holidays ended, with good sales, solid bidding numbers, and some auctions brought forward and sold prior. Interest rates continue to shape market sentiment, and local agents report a steady and busy market, with many appraisals being done. They predict activity will steadily improve over the next few months."

We hope you found this month's Property Report informative.

With so much movement in house prices, contact Key Real Estate, your Rotorua property specialist, to find your property value!