Kaipara bucks flat housing trend

Property values in Kaipara have posted some of the strongest growth in the upper North Island, even as Auckland’s housing market continues to soften and buyers across the country remain cautious amid economic uncertainty.

Quotable Value’s latest QV House Price Index shows the average value nationally has grown by 0.2% this quarter to $912,406. That figure is now just 0.3% higher than it was at the start of this calendar year and 0.2% lower than the same time last year.

It follows a remarkably flat start to the year, in which average home values remained static in January, dipped by 0.1% in February, were static again in March, and then grew by just 0.3% in April.

QV spokesperson Simon Petersen says the figures reflected the current mood of the market.

“The housing market is essentially in a holding pattern at the moment, with no real sense of urgency from either buyers or sellers, just an abundance of caution,” he says.

“People are having to take a more measured approach given the circumstances. Interest rates are always a key consideration and there’s also a high degree of restraint given the broader economic backdrop, which includes cost of living pressures, geopolitical uncertainty, and a general election looming later this year.”

Petersen says buyers were continuing to take a cautious approach, with little sign of a sharp turnaround in property values while listings remained plentiful.

“With very little to suggest that home value growth will suddenly take off anytime soon, or that conditions will drastically improve, it’s likely that most buyers will continue to take their sweet time, shop around, and wait for the right opportunity. This is especially true while there continues to be no shortage of listings available.”

Northland

Northland property values remained mixed overall, although Kaipara recorded strong quarterly growth, with average home values rising 3% to $856,228.

The Index shows that home values increased by an average of 1.3% across the wider region throughout the three months to the end of April 2026 – reversing a 0.4% decrease in the March quarter and a 0.2% decrease in the February quarter.

Much of the growth was in Kaipara, while the average home value also increased by 2.1% to $710,170 in the Far North and by 0.3% to $735,257 in Whangarei.

On an annualised basis, the average home value in Whangarei is now 0.5% lower than the same time last year. It is 3.7% and 3.8% higher in the Far North and Kaipara districts respectively.

Auckland

Residential property values continue to tread water across the Auckland region, though supply and activity remain steady.

Just one of the Super City’s former local council areas posted a modestly positive result this quarter, with property values in Auckland City increasing by just 0.4% to $1,377,388.

Rodney District maintained its average home value at $1,255,807, while North Shore (-1.1%), Waitakere (-1%), Manukau (-0.3%), Papakura (-0.6%), and Franklin (-0.2%) all recorded minor reductions in average home value.

At $1,199,957, the Auckland region’s average home value is now worth 2.8% less than the same time last year and 0.3% less than at the start of this calendar year.

Local QV registered valuer Hugh Robson says conditions remained steady.

“There’s a good supply of stock and steady activity from buyers, who are being cautious for the most part and doing their due diligence before making any commitments. Real estate agents are also reporting quite good numbers at open homes and auctions,” he says.

“First-home buyers make up a large portion of the market at present, but there is also steady activity in the $2m-plus bracket, with even a slight increase in activity from investors in recent times.”

Petersen says the market was likely to remain steady in the short term, with future movement heavily dependent on interest rates and wider economic conditions.

“Looking at the rest of the year ahead, much will depend on what happens to interest rates and how broader economic conditions continue to evolve,” he says.

“But the most likely scenario in the shorter term is a continuation of the steady, balanced market we’ve seen so far this year.”