New Zealand Home Values Fall 1.5% in September Quarter
Quotable Value reports a national residential property decline of 1.5%, with major urban centers like Auckland and Wellington seeing the steepest drops.
Residential property values in New Zealand fell by an average of 1.5% nationally during the quarter ending September 2026. According to the latest House Price Index from Quotable Value, the average home is now valued at $892,580, marking a 1.9% decline since the beginning of the year.
Major urban centers experienced the most significant losses, with values in Wellington dropping 3.0% and Auckland falling 2.5%. In contrast, some regions in the South Island showed growth, most notably Queenstown, where values rose 3.1%.
Analysts attribute the stagnation to high interest rates, elevated stock levels, and uncertainty regarding the general election scheduled for November 7. While first-home buyers remain the most active participants due to improved affordability, investor and auction activity has quieted. Despite the typical spring increase in listings, experts indicate the market remains in a holding pattern with buyers maintaining significant negotiating power.
