17 Jun 2026
Key Figures: May 2026 vs May 2025.
•National Median Price: $775,000 (+1.3%)
•National Sales Count: 6,523 (-12.6%)
•Inventory Levels: 36,130 (+5.0%)
•New Listings: 9,521 (+0.3%)
•Days To Sell: 47 Days (No Change)
•Strongest Regions: Southland, with a record median price of $540,000 (+10.2%) and Canterbury, with an equal record of $725,000 (+6.6%).
May 2026 points to a housing market that is steadier but still cautious and regionally uneven. The latest Real Estate Institute of New Zealand (REINZ) data shows the national median sale price in May increased 1.3% year-on-year to $775,000, while Days to Sell remained unchanged at 47 days.
Sales counts for May were down -12.6% compared with May 2025, but that comparison needs context. May last year followed earlier Official Cash Rate (OCR) cuts and stronger market momentum, and while May 2026 sits below the historical May median, the month remains well clear of the lower end of the 35-year REINZ range.
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May 2026: The New Zealand Property Report
Key Figures: May 2026 vs May 2025.
•National Median Price: $775,000 (+1.3%)
•National Sales Count: 6,523 (-12.6%)
•Inventory Levels: 36,130 (+5.0%)
•New Listings: 9,521 (+0.3%)
•Days To Sell: 47 Days (No Change)
•Strongest Regions: Southland, with a record median price of $540,000 (+10.2%) and Canterbury, with an equal record of $725,000 (+6.6%).
May 2026 points to a housing market that is steadier but still cautious and regionally uneven. The latest Real Estate Institute of New Zealand (REINZ) data shows the national median sale price in May increased 1.3% year-on-year to $775,000, while Days to Sell remained unchanged at 47 days.
Sales counts for May were down -12.6% compared with May 2025, but that comparison needs context. May last year followed earlier Official Cash Rate (OCR) cuts and stronger market momentum, and while May 2026 sits below the historical May median, the month remains well clear of the lower end of the 35-year REINZ range.
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