Rise in New Listings & Average Asking Price Lifts Bay of Plenty Property Market

Spring appeared to have hit the Bay of Plenty property market early this year following a significant increase in new listings across the region last month.

The latest realestate.co.nz report revealed the Bay of Plenty recorded 732 new listings last month which was an increase of 46.7% compared to August last year.

The Bay of Plenty was one of nine regions nationwide to record an increase in new listings last month compared to 12 months ago. The region experienced the largest lift closely followed by Gisborne with 40.9% and the Coromandel with 39.1%.

"Spring seems to have hit the property market early this year. This uplift in new listings will start to draw buyers back in and give more sellers the confidence to list," realestate.co.nz CEO, Sarah Wood says.

The Bay of Plenty was also one of six regions which saw both year-on-year and month-on-month asking price growth in August.

The report revealed the average asking price in the Bay of Plenty last month was $913,912 - up 3.2% from $885,223 in July.

It was also up 8.9% from $839,406 in August 2024.