Residential property values proceed to carry regular amid rising financial and political uncertainty, says Quotable Worth (QV).
The most recent QV Home Value Index reveals the typical worth nationally has grown by 0.2 per cent this quarter to $912,406.
The determine is simply 0.3 per cent larger than it was at first of this calendar yr and 0.2 per cent decrease than the identical time final yr.
It follows a remarkably flat begin to the yr, says QV, during which common dwelling values remained static in January, dipped by 0.1 per cent in February, had been static once more in March, after which grew by simply 0.3 per cent in April.
QV spokesperson Simon Petersen says the figures mirror the present temper of the market.
“The housing market is actually in a holding sample, with no actual sense of urgency from both patrons or sellers, simply an abundance of warning.
“Individuals are having to take a extra measured strategy given the circumstances.
“Rates of interest are all the time a key consideration and there’s additionally a excessive diploma of restraint given the broader financial backdrop, which incorporates value of dwelling pressures, geopolitical uncertainty, and a basic election looming later this yr,” says Petersen.
“With little or no to recommend that dwelling worth development will instantly take off anytime quickly, or that situations will drastically enhance, it’s probably that almost all patrons will proceed to take their candy time, store round, and watch for the proper alternative.
“That is very true whereas there continues to be no scarcity of listings accessible.”
Within the largest cities, the typical dwelling worth decreased in Auckland and Wellington by 0.3 per cent and 0.1 per cent respectively this quarter and elevated by 0.9 per cent in Christchurch.
Of these three, solely the latter’s common dwelling worth is now larger than it was on the identical time a yr in the past.
QV says the South Island has continued to outperform the North Island by way of dwelling worth development, with simply Nelson (-1.1 per cent) recording a small discount this quarter throughout the primary city areas it screens on the Mainland.
“Bunking the overall flatness pattern, sure pockets of the property market have carried some comparatively modest momentum by way of the primary 4 months of 2026, notably in Canterbury, Otago, Southland, and on the West Coast,” Petersen says.
“That stated, we’re now heading into late autumn now, when exercise does sometimes begin to decelerate a bit, and that’s prone to maintain ranges of dwelling worth development comparatively subdued at greatest.
“Taking a look at the remainder of the yr forward, a lot will depend upon what occurs to rates of interest and the way broader financial situations proceed to evolve.
“However the most probably situation within the shorter time period is a continuation of the regular, balanced market we’ve seen thus far this yr.”
QV says residential property values proceed to tread water throughout the Auckland area, although provide and exercise stay regular.
Simply one of many super-city’s former native council areas posted a modestly optimistic consequence this quarter, with property values in Auckland Metropolis rising by simply 0.4 per cent to $1,377,388.
Rodney District maintains its common dwelling worth at $1,255,807, whereas North Shore (-1.1 per cent), Waitakere (-1 per cent), Manukau (-0.3 per cent), Papakura (-0.6 per cent), and Franklin (-0.2 per cent) all recorded minor reductions in common dwelling worth.
At $1,199,957, the Auckland area’s common dwelling worth is now value 2.8 per cent lower than the identical time final yr and 0.3 per cent lower than at first of this calendar yr.
Auckland QV registered valuer Hugh Robson says situations have remained regular.
“There’s a very good provide of inventory and regular exercise from patrons, who’re being cautious for essentially the most half and doing their due diligence earlier than making any commitments.
“Actual property brokers are additionally reporting fairly good numbers at open properties and auctions.
“First-home patrons make up a big portion of the market at current, however there’s additionally regular exercise within the $2 million-plus bracket, with even a slight improve in exercise from buyers in latest instances.”
