House buyers had the largest number of homes to choose from in any October since 2014, according to Realestate.co.nz data reported by RNZ on 6 November 2026.
Available stock sat at 37,433 homes nationwide — up 11.4% on the same month a year earlier. At the same time, new listings fell 4.5% year on year, and national asking prices were down 2.7%.
Auckland still dominates the numbers
Auckland stock rose 14.1% year on year to 15,046 properties on the market. Realestate.co.nz chief executive Sarah Wood told RNZ that Auckland is such a large share of the national market that a fall in new listings there has an outsized effect on the overall picture.
New listings in Auckland were down 7.9% year on year. Other regions with sharper falls in new listings included Coromandel (−16.1%), Northland (−15.2%) and the Central North Island (−10.8%).
Where stock rose — and where it did not
Gisborne stock increased 31.4% year on year, followed by Taranaki (+21%) and Marlborough (+18.2%). Southland was the only region RNZ highlighted with a notable decline in stock, down 5.3% to 437 properties.
Wood said election timing and global uncertainty were playing a part in the slowdown in new listings. The general election is later this year than usual, she said, which could be affecting when people bring properties to market.
Auctions at a seven-year low
The share of properties being sold by auction was at its lowest level in seven years. Wood said auctions tend to be more popular when buyer demand is stronger, and that November and December figures would show whether auction numbers bounce back.
For buyers, the message from the data is straightforward: there is more choice on the market right now, and asking prices have eased nationally. How quickly those listings sell still depends on interest rates, bank lending and how confident people feel about their jobs — themes we have also covered in our November mortgage rate round-up and the First Home Loan election pledges explainer.
Wood put it simply: with 37,433 homes for sale, there is a lot of stock, and the next couple of months will show how much new supply arrives and how fast existing listings clear.
What this means if you are shopping now
More stock does not automatically mean a bargain on every street. It does mean you are more likely to find several comparable homes in the same suburb, which makes it easier to walk away from a listing that feels overpriced.
Asking prices falling 2.7% nationally is an average across the country. Individual suburbs can move differently. Auckland's rise in available stock to 15,046 properties is the clearest local signal that vendors who listed earlier in the year are still waiting for buyers, while fewer new sellers are joining them.
If you are a first-home buyer watching election housing promises, keep an eye on lending settings as well as stock levels. Party pledges on First Home Loan settings change the deposit and income maths; they do not clear the listings already on the market.
Vendors who need to sell before summer may have more reason to negotiate on price or settlement terms than they did when stock was tighter. Buyers who need bank approval should still allow time for valuations — when asking prices drift down, banks can be cautious about the valuation coming in below the offer.
Sources: RNZ, Property listings hit highest October level in 12 years (6 November 2026), quoting Realestate.co.nz and chief executive Sarah Wood.
