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Thursday, 16 July 2026
June 2026 Overview
June 2026 data points to a New Zealand housing market that is relatively steady, with national conditions remaining cautious while regional differences continuing to shape the overall picture. The latest Real Estate Institute of New Zealand (REINZ) data shows the national median sale price was broadly unchanged year-on-year at $770,000 (+0.7% compared with June 2025), while Days to Sell improved slightly to 48 days, one day faster than June 2025.
REINZ has tracked monthly sales since 1992, and putting June’s sales activity into context, the June 2026 sales count ranked 23rd of the 35 June results on record. That places June 2026 sales comfortably above the lowest years and matches May’s historical position, indicating the market is continuing to hold its footing. Once winter seasonality is taken into account, national sales activity changed little from May.
“The market continues to show signs of becoming more settled, but there is no single national story,” said REINZ Chief Executive Lizzy Ryley. “The New Zealand housing market has become a series of local markets moving at different speeds. Buyers and sellers in one part of the country are having a very different experience from those in another, making the local knowledge of trusted real estate professionals more important than ever.”
Two key REINZ measures moved in different directions this month. The national House Price Index (HPI) for June remained slightly negative on an annual (-0.8%) basis, pointing to a softer underlying price trend. However, the raw and seasonally adjusted median sale price both recorded the same year-on-year increase in June, reflecting continued strength in some of the country’s higher-value and better-performing regions.
Regionally, the South Island continued to out perform, with Canterbury recording one of its strongest June sales results on record and Southland continuing to lead the country for annual House Price Index growth. In contrast, Wellington’s market remained subdued, reinforcing the increasingly varied conditions being experienced across New Zealand.
Key Influences
The possible July Official Cash Rate (OCR) increase, ongoing cost-of-living pressures, fuel prices remaining above pre-conflict levels, despite an easing in the month, and the approaching general election all influenced market sentiment during June.
Some buyers brought purchasing decisions forward ahead of the OCR announcement, while others took a more measured approach. With the direction of the OCR largely priced into the market, mortgage rates had already adjusted, and the market continued to adapt to a higher interest rate environment.
REINZ members reported that buyers remained selective, taking time to compare properties and assess affordability before making decisions.
“Our members continue to tell us that people are taking a thoughtful and informed approach to buying and selling property,” said Ryley.
“Interest rates remain an important influence, but they’re only one part of the picture. There are a range of factors influencing confidence, but we’re not seeing a single event prompting buyers or sellers to suddenly change course. That measured approach is contributing to a market that’s remained relatively steady, with conditions continuing to vary across the country.”
Regional Performance
Six of the 16 regions recorded positive year-on-year median price movements, with West Coast and Canterbury the strongest performers:
- West Coast – a median price of $474,350, up 12.9% year-on-year. The region’s strong median price growth reflected continued activity from buyers looking to move up the property ladder, while vendors generally met the market on price despite a more measured winter market.
- Canterbury – a median price of $710,000, up 5.2% year-on-year. The region’s strong median price growth was supported by a strong local economy, ongoing regional investment, and broad-based buyer demand, with salespeople reporting activity across all buyer groups.
Other notable median prices were:
- Bay of Plenty, up 3.8% to $830,000
- Tasman, up 3.5% to $765,000
Three regions recorded no change year-on-year: Manawatu-Wanganui, Taranaki, and Wellington.
The number of reported sales was lower year-on-year in 11 of the 16 regions. Northland reported the highest increase in sales year-on-year, up 24.3% although this reflects a relatively subdued June 2025. Tasman sales were unchanged compared with June 2025.
Supply Indicators – Listings* and Inventory*
National listings increased by 4.3% year-on-year to 7,942 in June 2026, supporting evidence of a stabilising market. Canterbury and Southland continued to absorb new stock quickly, while Gisborne recorded the sharpest year-on-year increase in unsold inventory.
Auckland recorded 3,088 listings, marginally higher than June 2025.
Market Outlook
Current market indicators suggest conditions are likely to remain broadly stable through winter.
“The market has found a degree of steadiness in recent months, but we don’t expect every region to follow the same path from here,” said Ryley. “Our members are telling us that buyers remain engaged, but they’re taking their time, doing their research and making well-informed decisions. Local salespeople generally expect the stability to help activity gradually build over the coming months, as confidence improves and more properties come to market.
“That’s why local knowledge continues to matter. Understanding what’s happening in your own community, and working with a local real estate professional who understands those conditions, has never been more important.” (REINZ)
*Inventory and Listings data courtesy of realestate.co.nz
The median price for Northland increased by 0.8% year-on-year to $625,000
“Owner-occupiers were the most active buyer group, with first home buyer activity varying across the region, and investor activity easing.
Vendor price expectations are largely aligned closely with market conditions, though some vendors continue to hold firm on price. Open home attendance was variable, with steady attendance reported in some areas and desirable properties attracting particularly strong attendance. Auction clearance rates remained subdued across the region, with many properties passed in and moving to multi-offer instead.
Sentiment remained generally steady, with factors such as new tenancy rules shaping investor activity, and buyers and sellers taking a ‘wait and see’ approach ahead of the November general election. Local agents expected conditions to remain steady into spring.” (REINZ)
The current median Days to Sell of 54 days is less than the 10-year average for June which is 56 days. There were 49 weeks of inventory in June 2026 which is 16 weeks more than the same time last year.
The median price for Auckland decreased by 1.0% year-on-year to $980,000
“First home buyers remained the most active, with those upsizing or downsizing also prominent. Investors and developers were active where pricing represented good value.
Most vendors are pricing to meet the market, though some held firm with higher price expectations. Open homes saw well-marketed listings drawing good attendee numbers, while others had low attendance. Auctions varied, with pockets of spirited bidding and occasional pre-auction offers.
Market sentiment continues to be shaped by international conflict and a ‘wait and see’ approach ahead of the November general election. Local salespeople expect the market to remain steady over the coming months, and cautiously predict a gradual improvement post-election.” (REINZ)
The current median Days to Sell of 49 days is more than the 10-year average for June which is 45 days. There were 33 weeks of inventory in June 2026 which is 4 weeks more than the same time last year.
Waikato’s median price increased by 0.7% year-on-year to $745,000
“All buyer groups were active, with owner occupiers and first home buyers the most active in Taupo and Thames/Coromandel.
Most vendors are adjusting their expectations to meet current conditions, though some are holding firm on achieving stronger pricing. Open home turnout varied, with some areas reporting steady interest from serious, research-driven buyers, and others a marked drop-off. Auction outcomes were mixed, and several locations saw strong bidding and above reserve results.
Local agents have observed a modest improvement in sentiment, but caution remains, with buyers focused on value and taking a considered approach to purchasing. Interest rates, the general election and broader economic uncertainty continue to influence activity. Local agents expect conditions to remain broadly steady over the coming months, with activity likely to build into spring, particularly if interest rates ease further and confidence continues to improve.” (REINZ)
The current median Days to Sell of 55 days is more than the 10-year average for June which is 47 days. There were 25 weeks of inventory in June 2026 which is 3 weeks more than the same time last year.
The median price for the Bay of Plenty increased by 3.8% year-on-year to $830,000
“Owner-occupiers and first home buyers remained the most active groups.
Most vendors are setting their pricing to meet the market. Open home numbers have been steady, with a modest seasonal dip, though fresh listings drew the biggest numbers of attendees. Auction activity was steady, with some areas seeing better clearance results, and committed, well-prepared bidders.
Factors such as the November general election and international conflict continue to shape market sentiment, but some buyers are choosing to press ahead with decisions, and some properties are attracting competing offers and pre-auction interest.
Looking ahead, local agents cautiously expect the market to remain steady over the next few months, with the election standing out as the key variable that could alter the outlook.” (REINZ)
The current median Days to Sell of 51 days is the same as the 10-year average for June which is 51 days. There were 25 weeks of inventory in June 2026 which is 4 weeks more than the same time last year.
Gisborne’s median price decreased by 2.9% year-on-year to $600,000
“Owner‑occupiers were considerably more active than other buyer groups during June.
Vendors were meeting the market on price, recognising the importance of attracting buyers in a slower sales environment. Open home attendance was mixed, with some weekends busy and others quieter. Auction rooms saw good attendance, though clearance rates softened slightly. However, properties going under the hammer still tended to sell faster than through other methods of sale.
Rising living costs and a reduction in new listings weighed on market sentiment, though lower fuel costs helped support cautious optimism. The lower-to-mid market continued to see solid activity, with many properties attracting multiple offers.
Looking ahead, salespeople are cautiously positive about activity over the next few months, especially with easing costs and a milder season expected.” (REINZ)
The current median Days to Sell of 49 days is more than the 10-year average for June which is 42 days. There are 38 weeks of inventory in June 2026 which is 24 weeks more than last year.
Hawke’s Bay’s median price decreased by 1.5% year-on-year to $670,000
“Buyer activity was evenly split across most groups, although investor activity decreased. Vendor expectations varied, with some ready to meet the market on price, and others holding firm with their price expectations.
Open home attendance was lower than usual, but those attending were engaged and motivated. Auction results were mixed.
Market sentiment has shifted, with many buyers and sellers taking a ‘wait and see’ approach as the economy settles and the November general election draws closer. Conditions remain somewhat challenging, although local agents expect a possible lift in activity if quality stock comes to market.” (REINZ)
The current median Days to Sell of 49 days is more than the 10-year average for June which is 43 days. There were 17 weeks of inventory in June 2026 which is the same as the same time last year.
Taranaki’s median price was $620,000, which was the same as the median price for June 2025
“Owner-occupiers remained the most active buyers in the region.
Most vendor expectations continue to align with market conditions. Open home attendance was down for the month, which is typical for winter but compounded by severe weather, including power outages.
Rising costs of living and global conflicts shaped market sentiment, with very bad weather also affecting the market in the second half of June. The market continues to favour buyers.
Looking ahead, local agents cautiously expect activity to lift in Spring. The November general election is also likely to impact activity, with many buyers and vendors likely to adopt a ‘wait and see’ approach in the meantime.” (REINZ)
The current median Days to Sell of 42 days is more than the 10-year average for June which is 40 days. There were 23 weeks of inventory in June 2026 which is 6 weeks more than the same time last year.
The median price for Manawatu/Whanganui was $530,000, which was the same as the median price for June 2025
“Owner-occupiers remained the most active group, with limited investor activity ahead of the election. There was also some activity at the upper end of the market, with a notable number of sales above $1 million.
While many vendors were motivated to meet the market, some were holding firm on higher price expectations, with those properties generally taking longer to sell. Open home attendance was variable, with new listings drawing reasonable interest for the first few weeks before tapering off. Auction activity remained low, with most properties passed in and selling in the post-auction phase instead.
Sentiment remained subdued as market conditions shifted from balanced to favouring buyers. Buyers showed little urgency and no fear of missing out, and this isn’t expected to change until after the election.” (REINZ)
The current median Days to Sell of 52 days is more than the 10-year average for June which is 42 days. There were 22 weeks of inventory in June 2026 which is 4 weeks more than the same time last year.
Wellington’s median price was $750,000, which was the same as the median price for June 2025
“Buyer activity remained mixed, with first home buyers the most active. Activity tended to focus on properties below the $1 million mark.
Most vendors’ expectations were generally well aligned with current market conditions, though some vendors who initially held higher expectations then adjusted their pricing to meet the market. Open home attendance was generally low and some newly listed properties attracting no visitors. Auction activity was steady.
Market sentiment was shaped by uncertainty ahead of the July OCR announcement and in the lead up to the general election, with both buyers and vendors taking a measured approach to decision-making.
Looking ahead, local salespeople expect the Wellington market to stay quiet through winter and until after November’s general election.” (REINZ)
The current median Days to Sell of 56 days is much more than the 10-year average for June of 42 days. There were 18 weeks of inventory in June 2026 which is 4 weeks more than the same time last year.
The median price for Nelson decreased by 4.3% year-on-year to $670,000. The median price for Marlborough decreased by 14.9% year-on-year to $600,000. The median price for Tasman increased by increased by 3.5% year-on-year to $765,000.
“First home buyers and owner-occupiers remained the most active groups.
Vendor pricing was mixed, with some sellers who purchased at the peak still adjusting to current market conditions, and properties that have been on the market for some time being re-listed with more market-aligned price expectations. Open home turnout varied, with strong interest in some areas for first viewings, though overall decision-making across the market remains unhurried.
Auctions saw moderate clearance levels, and many properties that did not sell under the hammer attracted strong conditional buyer interest.
Sentiment remained largely unchanged, with economic uncertainty and the upcoming general election encouraging a measured approach from buyers. Over the next few months, local agents expect conditions to remain the same. Some activity is anticipated to lift as older stock starts to sell.” (REINZ)
The current median Days to Sell of 49 days is more than the 10-year average for June which is 42 days. There were 28 weeks of inventory in June 2026 which is 8 weeks more than the same time last year.
West Coast’s median price increased by 12.9% year-on-year to $474,350
“The most active buyer group were those looking to take the next step on the property ladder.
Most vendors were meeting the market on price, with a number choosing to wait and see how conditions develop after winter. Open home attendance was quiet overall.
Market sentiment softened, with a good range of stock giving buyers plenty of choice and limited urgency.
Local salespeople expect the market to remain steady through winter, with activity anticipated to pick up after the election as upcoming mining sector job opportunities drive renewed housing demand in the region.” (REINZ)
The current median Days to Sell of 86 days is much more than the 10-year average for June which is 67 days. There were 35 weeks of inventory in June 2026 which is 7 weeks more than the same time last year.
The median price for Canterbury increased by 5.2% year-on-year to $710,000
“All buyer groups were active during June.
Most vendor expectations were aligned with current market conditions, with some continuing to anticipate further market growth. Open home attendance was steady, with newer listings initially drawing good numbers before tapering off. Auction rooms saw good levels of interest, with more bidders and attendees. Some properties listed for auction also attracted strong conditional buyer interest.
Sentiment remained positive, supported by a strong local economy and confidence generated by ongoing regional investment, while economic factors also influenced activity.
Local salespeople cautiously expect steady activity through winter, with interest rates, the lead-up to the election, and the availability of new listings continuing to shape the market. Momentum is expected to build as more properties came to market, particularly if the usual spring uplift occurs.” (REINZ)
The current median Days to Sell of 42 days is more than the 10-year average for June which is 39 days. There were 14 weeks of inventory in June 2026 which is 1 week less than the same time last year.
“Dunedin’s median price increased by 2.9% year-on-year to $612,000
“First home buyers and buyers in the over $1,000,000 range were most active.
While some vendors continued to have higher price expectations, others were setting asking prices that reflected current market conditions. Open home attendance stayed strong for first home buyers, with lower attendance among the mid and top end of the market. Auction activity was quiet.
Sentiment is shaped by the prospect of further rate movement, prompting some potential buyers to purchase and lock in their financing. Investors are navigating additional cost pressures and regulations. Well-priced properties can draw strong competition.
Local salespeople expect the market to remain steady in the next few months, although factors such as the November general election, interest rates, and listing numbers will shape sentiment and activity.” (REINZ)
Queenstown Lakes
“First home buyers and owner-occupiers remained the most active, with investors also active amid sustained rental demand. Enquiries from buyers in Australia continued to grow.
Vendor expectations stayed slightly above market value, though most vendors were open to negotiation. Open home attendance was strong. The number of auction listings eased slightly, as typically happens in winter, but the majority that proceeded attracted active bidding and sold.
Market sentiment remained steady and cautiously optimistic, with the arrival of snow and the start of the winter tourism season boosting confidence across the local economy.
Local salespeople expect the typical winter uplift in activity as the ski season gets underway, and are hopeful that the influx of visitors, particularly from Auckland and Australia, will support demand across the region.” (REINZ)
The current median Days to Sell of 49 days is more than the 10-year average for June which is 43 days. There were 17 weeks of inventory in June 2026 which is the same as the same time last year.
The median price for Southland decreased by 0.6% year-on-year to $497,000
“First home buyers were most active, with investors also making up a reasonable share of the buyer pool.
Vendor pricing expectations were largely aligned with the market. Open home numbers softened compared to recent months, though new listings continued to draw good attendance levels.
Sentiment reflected a market gradually shifting to favour vendors, with a shortage of listings continuing to shape market conditions. Economic uncertainty and the lead-up to the November general election also influenced buyer and seller confidence. Local salespeople anticipate activity over the next few months continuing to be shaped by these factors.” (REINZ)
The current median Days to Sell of 36 days is more than the 10-year average for June which is 35 days. There were 12 weeks of inventory in June 2026 which is 1 week less than the same time last year.
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