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2025 ended on a soft note but values should rise in 2026

Looking toward this year in property.

Kelvin Davidson
Last updated: 12 January 2026 | 4 min read
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The New Zealand property market ended 2025 on a soft note, with Cotality reporting a slight dip in national values. The median value now sits at $808,430, with mixed results across the main centres.

While 2025 was considered "broadly flat" due to conflicting forces like lower mortgage rates and high listings, the outlook for 2026 is more positive. Experts forecast modest growth of around 5% as the economy improves, though Debt-to-Income restrictions remain a key variable to watch.

The numbers at a glance

A "broadly flat" 2025

The outlook for 2026

Author

Kelvin Davidson Kelvin Davidson
Chief Property Economist, Cotality