New Zealand’s housing market stayed steady through March, despite ongoing global uncertainty.
Sales volumes were about the same as a year ago, and prices did not move much. This shows the market is adjusting to outside pressures rather than pulling back.
March was the first full month of the conflict, during which fuel prices rose above $3.30 per litre and confidence among consumers weakened. Even so, buyer activity stayed fairly steady across most of the country.
Sales were almost unchanged year-on-year at 7,853, while adjusted figures show a small drop in activity compared to February, reflecting a more cautious market.
Prices, Regions & Supply
Nationally, the median price fell slightly by 0.3% over the year to $788,000. Outside Auckland, it rose 1.4% to $710,000, showing continued differences between regions.
Performance across the country is mixed. Eleven of sixteen regions recorded price growth, while Wellington and parts of the East Coast were weaker.
The time it takes to sell a home held steady at 41 days, unchanged from a year ago but 15 days faster than February, showing a return to more normal seasonal patterns.
Supply remains steady. New listings were up slightly (0.2%), while total available properties rose 2.1% to 37,638. This shows there has not been a major increase in new stock coming onto the market.
The House Price Index slipped slightly to 3,641 and is still 14.9% below its peak. Recovery continues to vary a lot depending on the region.
Wellington Market Conditions
Wellington’s median price fell 2.5% over the year to $780,000.
The market continues to favour buyers, led by strong first-home buyer activity. At the same time, owner-occupiers are more cautious and investor activity remains low.
More listings and more realistic pricing are creating a more negotiated market. Well-presented homes priced correctly are attracting strong interest, while overpriced homes are taking longer to sell.
Open homes are steady but buyers are more selective, and auctions are limited, with most sales happening through negotiation.
Overall, the market is disciplined and price-sensitive.
Homes are now taking 45 days on average to sell, above the 10-year March average of 35 days. Inventory levels have also increased to around 17 weeks.
Hutt Valley Snapshot
Lower Hutt remains a balanced but selective market.
The median price is $720,000, down 2.7% compared to last year, with 126 sales recorded. This shows steady demand, but buyers are more cautious.
Homes are now taking 47 days on average to sell, as buyers take more time to compare options. Well-presented, correctly priced homes are still selling well, while overpriced homes are sitting longer.
Overall conditions are balanced. Buyers have more choice and negotiating power, while sellers who price realistically based on current conditions are achieving results.
Lower Hutt remains sensitive to price, where preparation, presentation, and pricing make a big difference.
Clarity in an Uncertain Environment
Global uncertainty continues to influence how people feel and make decisions in the housing market.
In this environment, having a clear and up-to-date understanding of your property’s value is important for planning ahead.
If you are thinking about buying or selling, or would like an updated view of your property’s value, now is a good time to review your position.
Get in touch for a free, no-obligation appraisal or a personalised market update.
Data sourced from REINZ, March 2026.
