In contrast, Wellington\u2019s median slipped 2.5% to $780,000, while Hawke\u2019s Bay and Gisborne also recorded annual declines. These areas now offer more negotiating power for buyers with solid deposits and serviceability, particularly those entering the market for the first time.<\/p>\n
Auctions, days to sell, and the outlook<\/p>\n
Nationally, the median days to sell held at 41, the same as a year earlier but 15 days faster than February. This suggests vendors are adjusting expectations rather than withdrawing listings. Auctions remain concentrated in Auckland, Bay of Plenty and Canterbury, where competitive bidding still draws interest for well\u2011located stock.<\/p>\n
Looking ahead, Ryley cautions that \u201cthe focus now shifts to what happens next. Any early signs of a ceasefire have been overshadowed by renewed tensions, leaving uncertainty around fuel costs for New Zealand households, and whether confidence begins to rebuild over the coming months.\u201dASB shares that cautious view<\/a>, expecting demand to \u201cdecrease further over the coming months\u201d amid elevated living costs, rising job insecurity, and higher mortgage interest rates<\/a>, and seeing subdued demand plus very high inventory as leaving \u201clittle likelihood of a lift in nationwide house prices\u201d.<\/p>\n Taken together, those risks suggest the housing market is likely to stay steady but finely balanced through 2026.<\/p>\n