The national median dwelling value increased by 0.2% in June, after 0.1% declines in each of April and May, according to the Cotality Home Value Index.
The national median dwelling value was $815,389 in June, down by 16.1% from its January 2022 peak but up by 1.1% since the beginning of this year.
Median values in the main centres were unchanged in Auckland and Wellington compared to May, but up slightly for the month in Hamilton 0.3%, Tauranga 0.6%, Christchurch 0.6% and Dunedin 0.2%.
Cotality NZ Chief Economist Kelvin Davidson said June's figures emphasised the current variability of the market.
"On the one hand, mortgage rates have come down a long way, and that benefits borrowers whether they're in Whangarei or Winton," he said.
"But the normal upwards influence this would tend to have on sales volumes and property values is currently being dampened by other forces.
"In particular, the abundance of listings on the market means most buyers aren't in a rush and can be quite tough when it comes to price negotiations," he said.
"The subdued labour market remains an important factor too," Davidson said.
"After all, it's not only the direct job losses that are problematic, but a reduction in security for those who have kept their jobs will also be weighing on the property market," he said.
"Of course, problems for some are opportunities for others and a soft market is providing plenty of scope for first home buyers," he said.
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| Cotality Hedonic Home Value Index | ||||
| Residential Dwellings | ||||
| June 2025 | ||||
| District | Median Value | 1 month change | 3 month change | 12 month change |
| Far North District | $683,137 | -0.49% | 0.37% | -0.81% |
| Whangarei District | $732,012 | 0.41% | 0.27% | -0.12% |
| Kaipara District | $842,369 | 0.26% | 1.20% | -2.21% |
| Auckland - Rodney | $1,217,475 | -0.25% | -0.85% | -1.65% |
| Auckland - North Shore | $1,265,769 | -0.26% | -1.17% | 0.17% |
| Auckland - Waitakere | $934,097 | -0.16% | -0.67% | -0.54% |
| Auckland - City | $1,177,173 | 0.28% | 0.22% | -1.59% |
| Auckland - Manukau | $1,005,812 | -0.08% | -0.42% | -0.80% |
| Auckland - Papakura | $864,430 | -0.65% | -1.56% | -1.62% |
| Auckland - Franklin | $966,344 | 0.45% | -0.37% | -1.31% |
| Thames-Coromandel District | $1,019,232 | 0.75% | 0.75% | -0.46% |
| Hauraki District | $639,132 | 0.26% | -1.60% | -3.26% |
| Waikato District | $935,507 | -0.22% | -0.10% | -0.05% |
| Matamata-Piako District | $680,445 | -0.10% | 0.07% | -2.24% |
| Hamilton City | $752,125 | 0.25% | 0.50% | 2.01% |
| Waipa District | $921,141 | 0.06% | -0.14% | -0.92% |
| Otorohanga District | $647,948 | 0.87% | 2.26% | 1.70% |
| South Waikato District | $410,128 | 0.61% | -0.33% | -2.92% |
| Waitomo District | $439,947 | 0.04% | -1.98% | -7.38% |
| Taupo District | $807,861 | -0.35% | -0.13% | 0.41% |
| Western Bay of Plenty District | $1,081,094 | 0.66% | -0.29% | 2.83% |
| Tauranga City | $915,657 | 0.61% | 0.15% | -1.10% |
| Rotorua District | $621,909 | -0.69% | -1.05% | 1.38% |
| Whakatane District | $723,904 | -0.15% | -0.93% | 0.05% |
| Kawerau District | $416,254 | -0.03% | -0.43% | 2.47% |
| Opotiki District | $589,073 | -0.23% | -1.01% | -2.77% |
| Gisborne District | $610,057 | -0.22% | 0.34% | -1.79% |
| Wairoa District | $436,293 | 0.10% | 3.34% | -1.50% |
| Hastings District | $716,972 | -0.09% | -0.33% | -0.66% |
| Napier City | $731,440 | 0.34% | 0.20% | 1.27% |
| Central Hawke's Bay District | $604,242 | 1.08% | 0.93% | -1.55% |
| New Plymouth District | $698,795 | 0.04% | -0.28% | 1.89% |
| Stratford District | $525,522 | 0.90% | 0.84% | 1.85% |
| South Taranaki District | $451,517 | 1.49% | 1.04% | 1.43% |
| Ruapehu District | $385,575 | 0.70% | -0.55% | -2.09% |
| Whanganui District | $494,110 | -0.13% | -0.56% | -0.29% |
| Rangitikei District | $450,012 | 0.09% | 0.89% | -1.79% |
| Manawatu District | $647,551 | 1.15% | 1.59% | 1.01% |
| Palmerston North City | $609,142 | 0.47% | 0.42% | -1.61% |
| Tararua District | $424,209 | 1.06% | 1.02% | -0.19% |
| Horowhenua District | $537,014 | 1.05% | 1.44% | 0.13% |
| Kapiti Coast District | $825,900 | -0.02% | 0.34% | -1.33% |
| Porirua City | $774,193 | 0.06% | -0.38% | -1.26% |
| Upper Hutt City | $717,617 | 0.23% | -0.50% | -5.47% |
| Lower Hutt City | $695,182 | -0.18% | -0.47% | -3.67% |
| Wellington City | $884,468 | 0.02% | -1.44% | -6.21% |
| Masterton District | $563,886 | 0.59% | -0.17% | -2.13% |
| Carterton District | $675,303 | -0.15% | -1.58% | -5.07% |
| South Wairarapa District | $796,435 | 0.51% | -0.59% | -4.52% |
| Tasman District | $847,633 | -0.66% | -0.93% | -1.83% |
| Nelson City | $717,340 | 0.07% | -0.24% | 0.56% |
| Marlborough District | $682,050 | 0.08% | 0.63% | -2.16% |
| Kaikoura District | $775,523 | 0.78% | 1.21% | 5.93% |
| Buller District | $390,211 | 1.69% | 2.00% | -2.94% |
| Grey District | $444,772 | 1.89% | 2.78% | 1.53% |
| Westland District | $499,112 | 2.09% | 3.22% | 0.58% |
| Hurunui District | $670,351 | -0.17% | -1.35% | 1.35% |
| Waimakariri District | $760,774 | 0.27% | 0.43% | 1.07% |
| Christchurch City | $678,364 | 0.60% | 0.76% | 2.52% |
| Selwyn District | $864,418 | 0.00% | 0.35% | 0.48% |
| Ashburton District | $568,723 | 0.99% | 1.16% | 1.68% |
| Timaru District | $515,343 | -0.16% | 0.28% | -0.54% |
| Mackenzie District | $741,570 | 0.48% | 0.99% | 2.57% |
| Waimate District | $502,556 | 0.16% | 1.66% | 0.74% |
| Waitaki District | $509,911 | 0.49% | 1.91% | 3.06% |
| Central Otago District | $833,490 | 0.73% | 1.79% | 4.07% |
| Queenstown-Lakes District | $1,674,732 | 0.61% | -0.37% | 0.18% |
| Dunedin City | $614,656 | 0.17% | 0.21% | -0.44% |
| Clutha District | $408,338 | 0.47% | -0.01% | -0.66% |
| Southland District | $543,716 | 0.57% | 0.36% | -0.62% |
| Gore District | $435,514 | 0.67% | 1.52% | 2.34% |
| Invercargill City | $481,360 | 0.45% | 0.35% | 2.99% |
2 Comments
Specuvestors would normally be 50 posts deep by now calling it the market bottom (of the crash). But apparently they cannot afford 27c per day to comment. Anyways...wether it's a firm bottom, or ongoing smacky bottom is still TBA, and only future stats will show which.
Like the song the gambler, hold em or fold em. The "mortgagee" and "urgent" (banks advised sell before we do) listings on TM do suggest there's a fair bit of folding underway.
🍿
No one takes this made up report seriously...
the indicators to watch are
- Job losses
- GDP
- Asking prices
- Inventory levels
- 3 month averages of monthly stats
It just feels bleak in economy and I discount H1 GDP as in the rear view mirror already
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