8 Apr 2026March 2026: The New Zealand Property Report
The latest data from realestate.co.nz indicates sellers are easing back after a more active February.
Market activity slows in March
Following a lift in February, the property market cooled in March. New listings rose just 0.2% compared to the same time last year and dropped 1.6% from the previous month.
After a strong start to the year, the slight slowdown in March is not unexpected, given rising fuel costs and ongoing geopolitical tensions. However, buyers who are ready to act may find favourable conditions, with more choice and less competition.
Regional listing trends
Only four regions recorded double-digit annual growth in new listings:
• Gisborne: up 19.2% (52 → 62 listings)
• Taranaki: up 16.7% (234 → 273)
• Coromandel: up 15.1% (126 → 145)
• Central Otago/Lakes District: up 11.1% (226 → 251)
Meanwhile, two regions saw notable declines:
• Northland: down 14.9% (397 → 338)
• West Coast: down 19.5% (82 → 66), marking its lowest March on record
Prices remain largely unchanged
Nationally, the average asking price remained steady, rising just 0.5% year-on-year to $859,683.
However, regional performance varied. Four regions saw double-digit price growth:
• Gisborne: up 22.8% to $672,328
• Coromandel: up 13.7% to $1,164,168
• Central Otago/Lakes District: up 13.6% to $1,657,694
• West Coast: up 11.0% to $538,211
Stock levels provide buyer opportunity
Stock levels across New Zealand rose 2.1% year-on-year to more than 37,500 properties, the highest March total since 2015.
Twelve of the country’s 19 regions saw increased stock, led by Gisborne with a 16.4% rise.
Southland was the exception, with stock dropping 20.7% to 510 properties, down from 643 last year. This marks the ninth consecutive month it has recorded the largest annual decline in stock levels.
Outlook
While sellers appear to be holding back, the combination of stable prices, increased stock, and strong buyer interest suggests a market that still offers opportunities, particularly for those prepared to navigate ongoing uncertainty.
This blog post references content from realestate.co.nz