Property value upturn remains elusive for now

New Zealand's property market recovery remains stalled, with the Cotality Home Value Index showing flat national values. While cities like Hamilton and Christchurch are seeing growth, Auckland continues to fall.

According to economist Kelvin Davidson, high stock levels and a cautious labour market are keeping prices down, giving buyers more power. Modest house price growth is forecast for 2026, though potential restrictions like debt-to-income limits could cap any significant increases.