New Zealand Property Market Tracker

June's housing market reflected a relatively steady environment, with buyers continuing to take a measured approach amid ongoing cost-of-living pressures, higher interest rates, and uncertainty surrounding the upcoming general election. The national median price remained broadly unchanged at $770,000, up 0.7% year-on-year, while regional differences continued to shape market performance. South Island markets again stood out, with Canterbury recording one of its strongest June sales results on record and Southland continuing to lead the country for annual House Price Index growth.

What moved the market this month: 

• National median price $770,000: up 0.7% year-on-year, while the national HPI remained slightly negative (-0.8%)
• Regional performance remained mixed: Canterbury recorded a median price of $710,000, up 5.2% year-on-year, while the West Coast led the country for median price growth, increasing 12.9% to $474,350.
• New listings increased 4.3% year-on-year to 7,942, supporting evidence of a stabilising market, with Canterbury and Southland continuing to absorb new stock quickly.