The property market showed a slight slowdown in April, but overall conditions remain steady and more balanced than we have seen in recent years.
New figures from the Real Estate Institute of New Zealand (REINZ) show property sales across the country were down 8% compared to April last year. While this reflects softer activity, it still sits close to what is considered typical for this time of year, indicating a market that is settling into more normal patterns.
Rather than a lack of buyers, the shift appears to reflect a more considered approach. Buyers are taking their time, carefully weighing up options before making decisions, which is contributing to a more stable and sustainable market environment.
Ongoing cost pressures, including fuel, groceries, insurance, and rates, continue to influence buyer behaviour. Even so, there remains a solid base of active purchasers, particularly first-home buyers and investors, who continue to see opportunity in current conditions.
Nationally
Across New Zealand, house prices have remained relatively stable overall. Some regions continue to experience growth, while others, including larger centres such as Wellington, are showing signs of stabilising following softer conditions over the past year.
The average sale price was $775,000, down slightly by 0.6% compared to April 2025. The time taken to sell a home remained unchanged at 42 days, reflecting steady levels of buyer engagement.
Listings across the country increased by 7.3% year-on-year, reaching 9,139 new listings. This increase in supply is providing buyers with more choice and contributing to improved balance across the market.
A total of 6,262 properties were sold nationwide, representing an 8% decrease year-on-year but still consistent with seasonal expectations.
Wellington
In Wellington, the market remains steady, although activity levels were quieter during April. This was influenced by a combination of factors, including public sector uncertainty, the upcoming election, and the flooding events experienced throughout the month.
The median price in the region sits at $765,000, a 0.9% decrease over the year. Homes are taking an average of 45 days to sell, which remains a reasonable timeframe in the current environment.
Open home attendance was softer during the month, likely due to weather conditions and broader uncertainty. However, buyer enquiry remains consistent, particularly for well-presented and accurately priced homes.
One noticeable shift has been the increase in the number of properties available for sale. Buyers currently have more choice, creating a more balanced market and giving people more time to make decisions.
For sellers, this means presentation and pricing are more important than ever.
The good news is that homes are still selling within reasonable timeframes. Nationally, the median number of days to sell remained steady at 42 days, showing that quality properties continue to attract strong interest.
Hutt Valley Snapshot
The median sale price in the Hutt Valley is $670,000; a drop of $15,410 compared to last year, with 140 sales recorded. This reflects steady demand, although buyers are taking a more cautious approach.
Homes are now taking an average of 46 days to sell, as buyers spend more time comparing options. Well-presented, accurately priced homes are still performing well, while overpriced properties are sitting on the market longer.
Overall, the market is best described as stable and balanced. Buyers remain active, sellers are becoming more realistic with pricing, and while conditions are not as fast-paced as previous years, there is still plenty of movement across the market.
If you’re considering making a move in 2026, now is the perfect time to start the conversation. Get in touch for a free, no-obligation appraisal or personalised market update.
Data sourced from REINZ, April 2026.
