Residential sales commission earned by the real estate industry fell a little in the second quarter compared to the same period last year.
Interest.co.nz estimates the industry earned gross residential sales commissions totalling $484 million in the second quarter (Q2) of this year. That's down 3.3% compared to Q2 last year. However, it's up 15% compared to Q2 2024.
That reflects the generally flat market conditions that have prevailed over the last 18 months or so.
However, commission levels remain well below (-18%) the second quarter peak of $592 million achieved during the last housing boom in 2021.
Around the country, total estimated commissions were lower in Q2 this year compared to Q2 last year in all regions except Canterbury, the West Coast, Otago and Southland, reflecting more buoyant market conditions in those regions.
However, Q2 this year was the only quarter in the year to June that overall commission levels have been below what they were a year earlier.
Interest.co.nz estimates the real estate industry earned just under $2 billion in gross residential sales commissions in the 12 months to June this year, up 4.5% compared to the 12 months to June 2025.
That suggests the real estate industry was doing reasonably well up until the second quarter of this year, when it went into a slight downturn in the North Island and the upper half of the South Island.
The industry will have its fingers crossed as to whether that becomes a trend that will continue into the second half of this year.
The graph below shows the quarterly trend in estimated total commissions since Q2 2020.
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