Steady at the top

The wider New Zealand market has spent the past couple of years finding a new balance. Listings have increased, campaigns have become longer, and buyers are taking more time over their decisions. Auckland has felt some of that too, but Ponsonby, Herne Bay, St Mary's Bay, Westmere and Freeman's Bay have held their ground in a way much of the country has not. These five suburbs sit well above the national median, and it is a mixture of scarcity of supply, location and long-term land values that keeps them there.

6 Paget Street, Freemans Bay, Auckland City

 

The activity backs that up. Over the 12 months from 1 June 2025 to 31 May 2026, the five suburbs recorded 274 sales below $3 million, 38 between $3 million and $4 million, 18 between $4 million and $5 million, and 28 above $5 million. Most of the activity sits below $3 million, which is still a premium market by national standards. In comparison, much of New Zealand's transaction volume sits well below $1.2 million.

35 Spring Street, Freemans Bay, Auckland City

 

Each suburb plays a slightly different role in the market. Westmere sits in the middle, bridging Ponsonby, Freeman's Bay, St Mary's Bay and Herne Bay, contributing the highest turnover in the sub-$3 million band while still drawing strong lifestyle demand. Ponsonby and Freeman's Bay have the widest spread across the price bands, a reflection of their mix of housing and the character homes that sit so close to the city. Herne Bay and St Mary's Bay sit at the very top of the market, especially above $5 million, where waterfront positioning and genuine scarcity keep demand firm.

Westhaven - great for a stroll and fabulous views of the Auckland Harbour Bridge. 

This is an owner-occupier market at heart. The homes people want are character villas, renovated family houses and well-designed architectural properties. Most buyers are established professionals, business owners and families seeking lifestyle, schooling and a short commute. Returning expats are one of the most consistent forces in this market, particularly from the UK, Australia and the United States. They are looking for a long-term family home and bring international capital with them. That steady offshore interest plays an important role in keeping the premium market moving. At the very top, high-net-worth buyers are after scarcity and enduring land value, mostly in Herne Bay and a handful of select streets in Ponsonby and Westmere.

The difference in today's market is not demand; it is accurate pricing and quality presentation. A well-positioned home, priced in line with what buyers are genuinely thinking, tends to sell within four to six weeks. Price it to test the market and it can sit for eight to 12 weeks or more.

Another defining aspect of this market is that our vendors are, on the whole, financially secure. When owners can wait for the right buyer instead of chasing the market down, the market stays steady, and that is a significant part of why these suburbs hold up the way they do.

For the next six months, I am cautiously optimistic. As interest rates settle and confidence gradually improves, I expect volumes to lift before any significant uplift in prices. Buyers will stay disciplined, with continued emphasis on value, quality and presentation.

Where's home for you?

I was born in Wellington and spent 33 years in Australia selling property. Then I moved to Auckland, where I've managed high-performing real estate teams since.

What's the best part of living in inner-city Auckland?

I absolutely love the vibe that greater Ponsonby and the inner city bring. There's so much to see and do. We're surrounded by the harbour, as well as cafés, restaurants, bars and some of the best entertainment spots in New Zealand.

What's your favourite café or restaurant?

Andiamo in Herne Bay. It's an absolute icon, and Hotel Ponsonby is great for social drinks, as it's just across the road from our office.

Favourite local event?

A Taste of Ponsonby and New Zealand Fashion Week, with many of the area's designers showcasing their latest collections.

Where's the best spot to get outside?

I love Westhaven. The water, boats and food options are fantastic. Or, if you're looking for a stroll, Cox's Bay Reserve is a great choice.