New Zealand home sales fall 11.6% in September 2026

New Zealand home sales fell 11.6% in September 2026 to 5,752, the national median price slipped 2.3% to NZ$755,000 and homes took 46 days to sell.

The facts

• 5,752 properties were sold in September 2026, -11.6% fewer than in September 2025.
• The national median sale price was NZ$755,000, down 2.3% over twelve months; excluding Auckland it was NZ$691,200 and almost unchanged, while Auckland fell 2.6%.
• The House Price Index stood at 3,551, down 1.5% over twelve months.
• The median time to sell was 46 days, three days longer than a year earlier; inventory rose 10.7% to 34,001 listings and new listings rose 0.8% to 9,466.
• Several regional medians rose against the national fall: Taranaki 11.4%, West Coast 4.7%, Bay of Plenty 1.9% and Waikato 0.7%.
• Average asking prices on the country's largest listing portal were 0.4% lower over twelve months in July 2026, a smaller fall than in achieved median prices.

What it means for your money

• Entry is cheaper and wider: the national median is 2.3% below a year ago with 34,001 listings on the market.
• Bargaining power has shifted to the buyer. At 46 days to sell, three more than a year earlier, sellers have less reason to hold out on price.
• An owner who bought earlier faces the mirror image: the index is 1.5% lower and the exit is slower, so resale timing carries more weight.

What to watch

• Agents report a wait-and-see mood among buyers and vendors before the November general election, which the October figures will test.
• Central Otago District set a record median of NZ$1,020,000, 14.0% above its previous record of NZ$895,000 in August 2026, on 33 sales only.

Sources: Real Estate Institute of New Zealand, NZ Property Report September 2026, published 14 October 2026 https://www.reinz.co.nz/Web/Web/News/News-Articles/Market-updates/Measured_national_picture_continues_alongside_strong_regional_results.aspx

Market data: New Zealand