The New Zealand property market continues to show encouraging signs of stability, with buyers and sellers settling into a more balanced environment.
Nationally, the median house price remained steady at $770,000, up just 0.7% compared with June last year. Properties also sold slightly faster than they did a year ago, taking an average of 48 days to sell.While the market isn't moving at the same pace everywhere, that's not necessarily a bad thing. As REINZ Chief Executive Lizzy Ryley noted, New Zealand is now a collection of local property markets, each with its own story.
That's why local knowledge has never been more valuable when making property decisions.
What's Happening Nationally?
There are positive signs that the market is continuing to stabilise.
Nationally, the number of new properties coming to market increased by 4.3% compared with June 2025, giving buyers more choice while creating healthy competition among sellers. Although winter is traditionally a quieter time of year, sales activity has remained consistent with recent months, showing the market is holding steady.
Buyers are continuing to do their homework, carefully comparing properties and making informed decisions rather than rushing. This measured approach is helping create a more balanced and sustainable market for everyone.
Wellington Market Update
The Wellington market remains steady, with first home buyers continuing to be the most active group, particularly for homes priced under $1 million.
The regional median price held firm at $750,000, unchanged from June last year, demonstrating that prices have remained resilient despite wider economic uncertainty.
Properties are taking a little longer to sell, with an average of 56 days, and there is more choice available for buyers than this time last year. Vendors who price their homes realistically continue to achieve successful results, highlighting the importance of entering the market with the right strategy.
While uncertainty around interest rates and the upcoming election has encouraged some buyers and sellers to take their time, activity has continued rather than stalled, reflecting confidence that the market remains on solid ground.
Hutt Valley Property Market Snapshot
Here in the Hutt Valley, the market is continuing to perform steadily, with 118 properties changing hands during June and homes selling in an average of 45 days.
The median sale price was $665,000, around 5% lower than June 2025. While prices have softened compared with last year, this is creating opportunities for buyers who may have previously found the market out of reach.
With realistic pricing and well-presented homes continuing to attract interest, there are opportunities for both buyers and sellers who are well prepared and supported by good local advice.
Looking Ahead
As we move through winter, the market continues to reward preparation and patience.
Buyers remain active, but they're taking the time to research their options and make confident, informed decisions. At the same time, sellers who understand current market conditions and price their properties appropriately are continuing to achieve positive outcomes.
Every suburb, every neighbourhood and every street can perform differently, making local expertise more important than ever. Whether you're thinking about buying, selling or simply want to understand what's happening in your area, speaking with a local real estate professional is the best place to start.
If you're considering purchasing your first home, your next home, or an investment property, we'd love to help.
Join us for our FREE Home Buyers Seminar on Wednesday, 29 July, where our local experts will guide you through every step of the home buying journey and answer your questions in a relaxed, informative setting.
Spaces are limited, so be sure to reserve your place here.
Data sourced from REINZ, June 2026.