Market Update April 2026

The New Zealand property market has taken a slightly more cautious turn through the first quarter of 2026, with momentum easing after the optimism seen earlier in the year.

Recent commentary from economists, including Tony Alexander’s latest NZHL survey, suggests the recovery phase that had been developing since late 2024 has paused again. Open home attendance has softened and auction activity has reduced, with a growing number of agents reporting prices easing in their local areas. Much of this shift appears linked to rising uncertainty around employment, interest rates, global oil prices and the impact of the Iran conflict on confidence.

Importantly, access to finance itself remains relatively available. Instead, it is psychology — not lending conditions — that is influencing decision-making. Buyers are increasingly cautious and taking their time, and the familiar “fear of missing out” that drives faster markets is largely absent at present.

Northland Trends

Across Northland we continue to see steady enquiry, particularly from relocation buyers, but vendors remain selective about when to come to market. Some are waiting for clearer economic signals before listing, while others are still adjusting expectations after the stronger pricing period seen several years ago.

Overall, the regional market remains active but balanced.

Kerikeri – First Quarter – Slow but steady

Locally, the first quarter of 2026 has tracked closely with the same period last year in terms of sales volumes.

Appraisal requests remain strong, although a number of vendors are choosing to delay listing decisions while watching market conditions. Others are still aiming for price levels achieved several years ago, which are proving more difficult to achieve in today’s environment.

So far this year:

• Inventory levels have stabilised and remain higher than this time last year
• Average days to sell have been over 150 days (around five months)
• Some longer-term listings are now selling as vendors adjust to current market levels
• Negotiations are firm, with buyers clearly holding the stronger position unless multiple interest can be created

Values in Kerikeri remain relatively stable compared with some other parts of the country, we are hearing reports of renewed price softening elsewhere.

Opportunity Is Sitting in Plain Sight

There’s a lot of noise out there at the moment, but when you strip it back, the market is actually pretty clear.

We’re in a buyer-influenced environment, driven as much by confidence as affordability. When people feel uncertain, they sit on their hands. But the moment things stabilise—even slightly—activity comes back quickly.

That’s exactly what we’re starting to see.

For those paying attention, this market is presenting genuine opportunities. We’re seeing well-built, quality homes changing hands well below what it would cost to replace them today. At the same time, build costs continue to creep up, which only strengthens the case for buying existing property rather than starting from scratch.

Interest rates appear to be settling, and importantly, the banks are still lending. Finance is available—provided buyers are well prepared and have the right advice around them.

What stands out right now is that the best deals aren’t rare—they’re consistent. There’s always a property each month that represents serious value. The challenge isn’t finding them. It’s being ready to act when they appear.

For sellers, this market requires a different approach. Price and presentation matter more than ever, and buyers are quick to compare. The properties that are positioned well and show real value are still attracting competition and achieving strong outcomes.

At the end of the day, this isn’t a market to sit back and wait. It’s a market to be informed, prepared, and ready to move when the opportunity is right. This is where our unique team collaboration approach to real estate becomes especially valuable.

In a slower-moving market, success relies less on timing and more on strategy — understanding buyer behaviour, presenting homes well, managing disclosure carefully, and creating structured competition wherever possible.

Our approach draws on more than 100 years of combined real estate experience across the team, supported by a collaborative process where everyone contributes to preparing properties thoroughly before they reach the market. We guide our customers through pricing and negotiation with clear, practical information without pressure, helping protect both confidence and results.