New Zealand property values, late 2026

The story so far

New Zealand property values fell by 0.3 per cent in September, the sixth month in a row of decline, with Cotality putting the national median value at $797,078.^{1 Oct} Quotable Value reported that the average home value dropped 1.5 per cent to $892,580 in the three months to September, and said buyers currently have more influence than sellers.^{12 Oct} Other September data put the national median house price at $755,000, down 2.3% on a year earlier, with expensive homes hit hardest.^{14 Oct} Different sources measured the market in different ways, and one house price index rose 0.4% during September even as annual prices fell.^{14 Oct} Cotality NZ said the country may be moving into a period of lower house price growth, with values 19% below the 2021-22 peak but 37% above 2016 levels.^{15 Oct}

Latest

Cotality NZ's analysis suggests New Zealand could be entering a low-growth housing market, with national median values 19% below their 2021-22 peak.^{15 Oct} Quotable Value said the market is likely to stay flat for some time.^{12 Oct}

Key moments

1. 1 OctProperty values fall 0.3 per cent in September, a sixth straight monthly decline.
2. 12 OctQuotable Value says average home value fell 1.5 per cent; market likely flat.
3. 14 OctSeptember data shows median price down 2.3% year on year, expensive homes hardest hit.
4. 15 OctCotality says New Zealand may be entering a low-growth housing market.

Written from the stories below; each sentence links to its sources.