WATCH: Perspectives Property Report August

Hi, I’m Fraser Holland, Executive Director of Sotheby’s International Realty’s in the Central Region.

Today I am at 103 Waimarama Road, a wonderful example of a property that makes Havelock North so compelling. Hawke’s Bay has always had a strong sense of place – shaped by its landscape, lifestyle, food and wine.

While I could wax lyrical about the Bay all day, allow me to give you my spin on the July REINZ statistics.

The national picture is relatively steady on sales value, with the REINZ national median sale price at $760,000 in July, down just 0.7 percent year-on-year.

However, the pace of the market has slowed. Total sales were down 10.0% compared with July 2025. Like many sectors in NZ currently it’s a bit of a grind on the ground, but to put the sales result into context, REINZ’s 35 years of sales records place July 2026 around the historical midpoint for the month.

So the story isn’t necessarily falling prices. It’s a more patient, steady market, with buyers taking longer considered decisions and as a result properties taking longer to sell.

For people buying and selling in the same market, that creates opportunity. Importantly it means you can make decisions around your own circumstances, rather than trying to perfectly time the ups and downs of a prior period.

Here in Hawke’s Bay, the median price was $650,000, down 3 percent year-on-year.

There were 194 sales in July, compared with 237 a year earlier – significantly an 18 percent decline.

Median days to sell was 57 days, compared with a 42-day - 10-year average for July.

Medians and national statistics aside, well-positioned and well-presented properties, those a little unique or special continue to attract interest, and that’s where market knowledge and expertise become particularly important.

Take 116 Te Mata Mangateretere Road in Havelock North.

This standout lifestyle property attracted strong interest from both New Zealand and International buyers. It sold recently, making it one of Hawke’s Bay’s highest-value lifestyle property sales in recent years.

There is certainly greater activity in the mid-market, attracting both downsizers and first or second homeowners. Take 9 Kinross Street in Napier South, a modest but immaculate villa in a suburb central to Napier, where a competitive campaign generated strong buyer interest and nine offers presented to our owners.

What we are seeing is demand for properties that offer something genuinely special.

And there are some great examples on the market right now, like 9 Elizabeth Road in Napier.

Set high on Bluff Hill with uninterrupted sea views, this home has been reimagined by architect Simon Clarkson, giving it the feel of a near-new home while retaining the character of its 1930s origins. The location and outlook certainly add to the appeal.

It’s another example of the diversity of property across Hawke’s Bay.

Positioned above the Tuki Tuki River, this exceptional property captures views across the surrounding landscape, while enjoying remarkable privacy just five minutes from the village.

For me, it sums up that combination of space, beauty and connection to place, that people are increasingly looking for.

Craggy Range is just down the road, and that says a lot about the lifestyle here – where wine, food and landscape are all part of everyday life.

Craggy Range has been included by Wine Enthusiast in its 2026 list of the world’s best winery restaurants.

And Hawke’s Bay has also recently been recognized in the Great Wine Capitals Global Network, alongside destinations including Bordeaux and Napa Valley.

That’s a wonderful endorsement of where this region sits internationally.

And it’s also why we’re proud to announce our new sponsorship of the Hawke’s Bay Wine Awards and the New Zealand Sotheby’s International Realty Champion Wine of Show.

The Awards celebrate the people, producers and wines that make this region so special. Wherever you are viewing from, come take a look.

As I said earlier, if you’re buying and selling in the same market, regions like Hawke’s Bay or Wairarapa, towns such as Taupo or Cambridge all become opportunities.

Take good advice from your trusted Sotheby’s expert. With the Spring market just around the corner - you don’t need to put your life on hold.