CURRENT MARKET OVERVIEW

The boating industry has been navigating dynamic market conditions throughout 2024 moving into 2025, with notable trends shaping the market outlook. Local sales data indicate a resurgence in demand for second-hand boats as interest rates have eased, as well as an increase in competition for each listing, which has begun to drive prices upward. The New Zealand recreational boat market is expected to grow steadily from the end of 2024 to 2030.

While specific data for New Zealand is limited, global patterns and local sales figures indicate that the New Zealand market is experiencing similar developments.

Please take a look below at our detailed overview of the latest market trends, insights, and opportunities for buyers and sellers.

Global Market Trends

The global marine market for second-hand boats valued over NZD 200,000 saw a 12.4% decrease in sales during the first half of 2024, contributing to an overall 9.1% drop in total boat sales for the year. However, the market showed signs of recovery in the latter half of 2024. The lower price bracket (NZD 200k–400k) experienced a significant slowdown, with boats previously selling for NZD 320k now fetching around NZD 250k—a 23% decrease in price.

Boats priced at NZD 500k and above were less affected, seeing a more moderate decline of 15–18%. Factors influencing the market include high interest rates and inflation, which have dampened consumer demand, particularly in the used boat segment.

Additionally, overproduction during the past two years, combined with improved availability of new boats, has led to longer selling times for used boats. Boats just one to two years old now spend an additional 75 days on the market compared to 2023.

Local Market Activity

Sailboats

• Market Activity: 82 sailboats priced above NZD 200,000 are currently listed for sale, with 5 added in the last week and 11 in the past month.
• Trends: High-value sailboats above NZD 500k continue to sell well, while boats priced below NZD 400k have faced slower sales. Boats under NZD 200k are struggling to attract inquiries.
• Buyer Preferences: Twin wheels, walk-through transoms, and newer rigging are popular features. Conversely, teak finishes and rigging older than 10 years deter buyers. 

Sailing Multihulls

• Market Activity: 80 sailing catamarans priced above NZD 200,000 are listed, with 3 added in the last week and 12 in the past month.
• Performance: Catamarans over NZD 500k are achieving 90% of their asking price if they are in good working condition and priced competitively.
• Global Influence: The global catamaran market is expanding, with notable growth reflected locally. Vuda Marina in Fiji reported more sailing catamarans than monohulls clearing customs for the first time this year.

Power Boats

• Market Activity: 448 power boats priced above NZD 200,000 and over 10m in length are currently for sale, with 11 listed in the past week and 32 in the last month.
• Trends: Larger luxury powerboats priced above NZD 500k have performed well, while those in the NZD 200k–500k range are moderately affected. Smaller powerboats priced below NZD 200k have seen a decline in value and demand.
• Buyer Preferences: Sedans, game-fishing setups, and shaft-drive configurations remain highly sought after.

Considerations for Sellers

Pricing Strategy:

• Competitive pricing aligned with market trends is essential for quick sales.
• Higher prices are achievable for boats that are in perfect working order with up-to-date servicing and documented histories.

Marketing Efforts:

• Enhanced marketing strategies, such as proactive communication and database engagement, are key to securing deals.

Preparedness for Selling:

• Boats that are serviced, polished, cleaned, and equipped with functioning gear sell faster and at better prices.
• Providing a comprehensive yacht history and proof of regular maintenance is crucial. 
  
  

The boating market is experiencing a mix of challenges and opportunities. While economic factors have dampened sales in some segments, strategic pricing, effective marketing, and maintaining boats in top condition can help sellers capitalise on the recovering demand. The New Zealand market, bolstered by global trends, shows promising growth prospects for the years ahead.