The housing market was basically flat in February, with overall sales volumes and selling prices almost unchanged from a year ago and properties taking a little longer to sell. The Real Estate Institute of New Zealand reported 6523 residential sales in February, up by just 0.3% compared to February last year. Prices were similarly stuck in the mud, with the REINZ's House Price Index (HPI) unchanged from February last year. In Auckland, the country's largest real estate market market by far, the HPI was down 1.1% compared to February last year. "Three key forces shaped market activity during February - weather, interest rates and the approaching election," REINZ Chief Executive Lizzy Ryley said.

Source: New Zealand Herald March 16, 2026 02:03 UTC