@realty kicks off 2026 with strong January performance as New Zealand property market shows early momentum
@realty has started 2026 on a high, transacting $422,558,319 in January, marking a strong and confident beginning to the year. The result reflects continued buyer and seller engagement across the network, despite broader market conditions remaining measured.
Across New Zealand, the property market has opened the year cautiously but with early signs of momentum. While national figures show a slight softening in prices, regional performance and sales activity point to growing confidence among both buyers and vendors.
It may be the year of the horse, but the property market hasn’t bolted just yet.
Latest data from realestate.co.nz shows the market began 2026 at a steady pace, echoing the caution seen throughout much of last year. January recorded a modest lift in new listings and the highest January stock levels in over a decade, alongside a small dip in the national average asking price.
Market activity indicates buyers are active but considered. Mortgage pre-approvals are increasing, suggesting many buyers are preparing to move, even as they remain selective and price-conscious. With plenty of stock available nationwide, current conditions are proving favourable for those ready to transact early in the year.
Property prices show mixed regional performance
The national average asking price fell 1.5% year-on-year in January to $856,730, though several regions recorded notable gains.
The West Coast led the country, reaching an all-time record asking price of $585,881, up 17.4% from January 2025. Gisborne rose 8.2% to $705,145, Canterbury edged up 0.2% to $719,184, and Central Otago/Lakes District climbed 12.0% to $1,621,022, all recording January highs.
In contrast, Marlborough experienced the largest annual decline, with average asking prices falling 12.6% to $676,223, marking the first time the region has dropped into the $600,000 range since October 2021.
While the national average has softened slightly, these regional highs highlight continued buyer interest and vendor confidence, particularly in lifestyle-focused and value-driven markets. Online activity supports this trend, with visits to realestate.co.nz tracking 12.4% higher than the same time last year.
New listings edge up, with standout regional growth
New listings increased 1.3% year-on-year in January to 9,019, signalling a slow but steady start to the year.
Gisborne recorded the strongest growth, with 74 new listings, a 45.1% increase compared to January 2025. Hawke’s Bay followed with 319 new listings, up 21.8% year-on-year. West Coast and Northland also recorded double-digit growth, rising 14.3% and 10.0% respectively.
Several regions, however, saw notable declines. Marlborough recorded the steepest drop in new listings, down 27.4%, while Central Otago/Lakes District, Coromandel, Wairarapa, Otago, Southland, and the Central North Island all posted double-digit year-on-year declines.
The uneven regional picture suggests that while some vendors are acting decisively, others are taking a wait-and-see approach as the year unfolds.
Stock levels reach decade-high for January
Total national stock levels rose 2.3% year-on-year to 33,149 listings, the first January since 2014 to exceed the 33,000 mark.
Gisborne again led the country with a 15.1% increase in stock, the only region to post double-digit growth. Several other regions recorded modest increases, including Northland, Auckland, Hawke’s Bay, Wellington, and Coromandel.
At the opposite end, Southland continued its downward trend for the seventh consecutive month, with stock levels falling 19.1% year-on-year. Central Otago/Lakes District and Otago also recorded double-digit declines.
Buyer activity remains steady heading into 2026
Despite ongoing caution, sales data from REINZ shows the market finished 2025 strongly, with 6,628 properties sold in December — significantly higher than December sales in the previous three years. This performance indicates that buyers remain active, though more deliberate in their decision-making.
Overall, the New Zealand property market has begun 2026 with a stable and cautiously optimistic outlook. While growth is uneven across regions, strong sales volumes, rising online engagement, and increased stock levels suggest the market is building momentum.