Our take on the latest Real estate statistics (Fri 12 Apr 2019)
New Zealand house sales dive 13%pa in March
Every region except West Coast saw a fall in sales
New Zealand price growth slowed to 2.3%pa
The key numbers...
- The housing market continues to weaken, with potential buyers paralysed by fears over future government interventions and changes to investment incentives. We anticipate these conditions will prevail until more clarity appears over future tax settings.
- Even lower fixed mortgage rates haven’t been enough to encourage would-be buyers to purchase property, highlighting the strength of concerns held by investors.
- Slowing house price growth outside Auckland could be the beginning of a shift in the market, with our expectation that supply and demand is becoming more balanced.
Number of houses sold
3 month annual % changes
...and our reaction
- House sales fell across the country in March, with nationwide sales down 13%pa. The three largest markets of Auckland, Wellington, and Canterbury recorded falls of 18%, 10%, and 2.3%pa respectively.
- Today’s result reinforces a sharp drop in house sales over the March quarter, down 8.1%pa nationally, and 14%pa in Auckland.
- House prices outside Auckland continue to rise, although growth slowed from 7.9%pa in February to 7.2% in March. Three-quarters of regions recorded slowing growth. Prices continue to fall in Auckland, down 2.9%pa in March.
Latest updates
Premium
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13%pa House sales in May 20260.6%pa House prices from May 2025Stock of homes for sale at an 11-year highReal estate statistics
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Thu 14 May 2026
Monthly
7.9%pa House sales in Apr 20260.5% House prices from Mar 2026 (sa)
1.2% Stock of homes for sale since Feb 2026 (sa)