New Zealand Property Market Tracker

September 2026 Sales Activity

September's housing market remained measured, with national prices and sales activity easing year-on-year. The national median price was $755,000, down 2.3%, while the South Island continued to outperform the North, with all four South Island HPI series recording annual growth.

What moved the market this month:

National median price $755,000: down 2.3% year-on-year, with sales activity easing 11.6% and properties taking a median of 46 days to sell.
Inventory remained elevated: new listings increased 0.8% year-on-year to 9,466, while inventory rose 10.7% to 34,001. Southland moved against the trend, with inventory down 8.4%.
Varied regional performance: Taranaki recorded the strongest median price growth, up 11.4% to $620,000, followed by the West Coast, up 4.7% to $450,000.

Real estate by the numbers

September's year-on-year REINZ figures, published October 2026.

5,752

Sales Count | ↓ 11.6%

$755,000

Median House Price | ↓ 2.3%

Days to sell | ↑ 3 days

Lizzy Ryley, REINZ Chief Executive

“Activity is continuing, but decisions are not being rushed. Buyers are moving forward when the property, price and timing suit their circumstances, while many vendors recognise that achieving a sale may require patience.”