New Zealand Property Market Tracker

February 2026 Sales Activity

February’s housing market reflected a patient and balanced environment, with both buyers and sellers waiting for the right price. The national median price increased 3.2% year-on-year to $795,000, while overall sales activity remained steady. Some major regions, including Auckland, Canterbury, and Waikato, recorded their strongest February sales since 2021, signalling pockets of stronger demand even as properties continue to take longer to sell.

What moved the market this month:

Median price $795,000: up 3.2% year-on-year, showing gradual price recovery
Sales activity 6,523: up 0.3% year-on-year, with seasonally adjusted sales rising 6.6% from January
New listings increased 7.8% to 12,252, giving buyers more choice while inventory rose slightly to 36,357

Real estate by the numbers

February's year-on-year REINZ figures, published March 2026.

6,523

Sales Count | ↑ 6.6%

$795,000

Median House Price | ↑ 3.2%

Days to sell | ↑ 2 days

Lizzy Ryley, REINZ Chief Executive

"Three key forces shaped market activity during February: weather, interest rates, and the approaching election. Severe weather disrupted activity in several regions, while the Reserve Bank’s decision to hold the Official Cash Rate at 2.25% signals that the period of falling mortgage rates has likely ended. The confirmation of the November election, alongside renewed policy debate around a potential capital gains tax, is also creating some uncertainty for investors."