Residential property values slipped slightly lower in June, according to property data company Cotality.
The national median value of dwellings was $806,512 in June according to Cotality's Home Value Index. That's down 0.2% compared to May, down 0.8% compared to March, down 0.9% compared to June last year and down 17.5% compared to the market peak in 2022.
Around the main centres, June values were up 0.5% compared to May in Hamilton, with Christchurch and Dunedin both posting a monthly rise of 0.2%.
Heading in the opposite direction were dwelling values in Tauranga down 0.2%, Wellington 0.4% lower, and Auckland down 0.5%.
"The key main centres of Auckland and Wellington continue to see sluggish value patterns, restrained by factors such as further growth in housing supply, while other main centres such as Hamilton, Christchurch and Dunedin are edging higher off the back of a stronger economic base," Cotality NZ Chief Property Economist Kelvin Davidson said.
Davidson sees a couple of potential bright spots which may help to lift the market.
"Recent falls in interest rates could be a fillip for buyer confidence and we're clearly hoping that the US-Iran peace deal will hold," he said.
"That would avoid the worst outcomes for inflation, mortgage rates and the economy, as well as the obvious human and social costs, but the conflict remains a watching brief, Davidson said.
"Even if the deal does hold, housing conditions are still tilted in buyers' favour, suggesting little chance of runaway prices anytime soon," he said.
The table below shows the median dwelling values in all urban centres throughout the country and their movements over one, three and 12 months.
| Cotality NZ Home Value Index | ||||
| June 2026 | ||||
| Region/District | Median Dwelling Value | 1 month change | 3 month change | 12 month change |
| Northland Region | $707,994 | -0.07% | -0.05% | -1.16% |
| Far North District | $651,463 | 0.07% | -0.25% | -1.65% |
| Whangarei District | $716,875 | -0.27% | -0.27% | -1.13% |
| Kaipara District | $825,616 | 0.25% | 1.05% | -0.69% |
| Auckland Region | $1,047,764 | -0.46% | -1.29% | -2.79% |
| Auckland - Rodney | $1,202,884 | -0.78% | -0.78% | -1.34% |
| Auckland - North Shore | $1,262,274 | -0.74% | -2.44% | -1.25% |
| Auckland - Waitakere | $900,441 | -0.51% | -1.32% | -2.67% |
| Auckland - Central | $1,100,832 | -0.31% | -1.04% | -3.75% |
| Auckland - Manukau | $976,440 | -0.30% | -1.08% | -3.06% |
| Auckland - Papakura | $784,164 | -0.44% | -1.13% | -3.11% |
| Auckland - Franklin | $926,543 | -0.27% | -0.65% | -2.59% |
| Waikato Region | $780,206 | -0.03% | -0.65% | -0.36% |
| Thames-Coromandel District | $1,025,568 | -0.23% | -0.46% | 1.53% |
| Hauraki District | $595,195 | -0.74% | -2.06% | -1.17% |
| Waikato District | $928,759 | -0.78% | -1.83% | -0.06% |
| Matamata-Piako District | $730,014 | 0.43% | -0.22% | 0.36% |
| Hamilton City | $732,114 | 0.52% | -0.02% | -1.42% |
| Waipa District | $919,039 | -0.23% | -0.43% | -0.62% |
| Otorohanga District | $631,118 | -0.50% | -1.19% | -2.13% |
| South Waikato District | $438,533 | -0.09% | -0.38% | 2.06% |
| Waitomo District | $451,181 | 0.44% | -0.32% | 4.07% |
| Taupo District | $749,773 | 0.21% | -0.90% | -0.58% |
| Bay of Plenty Region | $837,828 | -0.07% | -0.16% | 0.69% |
| Western Bay of Plenty District | $1,064,635 | 0.29% | -0.22% | 1.41% |
| Tauranga City | $929,649 | -0.21% | -0.12% | 1.24% |
| Rotorua District | $644,039 | 0.00% | 0.11% | -0.88% |
| Whakatane District | $675,464 | -0.06% | -0.65% | -1.25% |
| Kawerau District | $425,913 | 0.28% | 1.48% | 2.06% |
| Opotiki District | $580,990 | -0.28% | -0.68% | -0.67% |
| Gisborne Region | $593,073 | -0.56% | -2.22% | 1.90% |
| Gisborne District | $593,073 | -0.56% | -2.22% | 1.90% |
| Wairoa District | $384,983 | -0.06% | -0.94% | -0.40% |
| Hawkes Bay Region | $689,381 | -0.36% | -1.94% | -3.28% |
| Hastings District | $706,529 | -0.48% | -2.67% | -4.56% |
| Napier City | $718,262 | -0.34% | -1.24% | -2.04% |
| Central Hawke's Bay District | $603,526 | 0.17% | -1.23% | -2.90% |
| Taranaki Region | $642,457 | -0.10% | -0.74% | -1.33% |
| New Plymouth District | $704,632 | -0.15% | -0.75% | -1.38% |
| Stratford District | $534,028 | -0.13% | -0.93% | -0.21% |
| South Taranaki District | $457,680 | 0.19% | -0.62% | -1.61% |
| Manawatu-Whanganui Region | $537,408 | -0.05% | -0.44% | -0.92% |
| Ruapehu District | $381,107 | -0.52% | -1.17% | -2.78% |
| Whanganui District | $493,799 | -0.31% | -1.10% | 0.04% |
| Rangitikei District | $434,520 | -0.58% | -1.29% | 0.04% |
| Manawatu District | $628,679 | 0.48% | 0.93% | -2.70% |
| Palmerston North City | $604,104 | 0.08% | 0.09% | 1.23% |
| Tararua District | $406,451 | -0.01% | 0.16% | -3.87% |
| Horowhenua District | $518,960 | -0.21% | -1.60% | -4.14% |
| Wellington Region | $766,695 | -0.34% | -1.14% | -1.73% |
| Kapiti Coast District | $813,915 | 0.00% | -0.28% | -1.45% |
| Porirua City | $759,712 | 0.11% | -0.37% | -2.27% |
| Upper Hutt City | $718,650 | 0.16% | -0.76% | -1.69% |
| Lower Hutt City | $653,398 | 0.13% | -0.99% | -3.29% |
| Wellington City | $861,765 | -0.85% | -1.73% | -1.08% |
| Masterton District | $572,783 | 0.00% | -1.55% | -2.36% |
| Carterton District | $662,300 | 0.19% | 0.14% | -1.55% |
| South Wairarapa District | $772,732 | -0.38% | -0.33% | -0.11% |
| Tasman Nelson Marlborough | $761,195 | -0.02% | -0.45% | -1.00% |
| Tasman District | $870,216 | 0.20% | -0.02% | 0.60% |
| Nelson City | $718,879 | -1.03% | -1.54% | -2.08% |
| Marlborough District | $686,904 | 0.71% | 0.03% | -1.91% |
| Kaikoura District | $800,447 | 0.86% | 1.44% | 2.24% |
| West Coast Region | $460,754 | 1.44% | 2.45% | 5.54% |
| Buller District | $405,591 | 0.53% | 1.81% | 0.56% |
| Grey District | $466,903 | 2.06% | 2.21% | 6.64% |
| Westland District | $529,888 | 1.50% | 3.19% | 8.78% |
| Canterbury Region | $722,375 | 0.21% | 0.34% | 2.97% |
| Hurunui District | $731,822 | 1.06% | 1.82% | 3.68% |
| Waimakariri District | $787,715 | 0.18% | 0.02% | 3.61% |
| Christchurch City | $706,382 | 0.17% | 0.44% | 3.03% |
| Selwyn District | $882,669 | 0.16% | 0.07% | 2.89% |
| Ashburton District | $574,433 | 0.24% | 0.23% | 4.31% |
| Timaru District | $526,716 | 0.35% | -0.10% | 0.71% |
| Mackenzie District | $737,940 | 0.38% | 1.28% | 2.75% |
| Waimate District | $521,940 | 1.26% | -0.16% | 1.71% |
| Waitaki District | $506,304 | 0.11% | 1.74% | -0.56% |
| Otago | $744,315 | -0.07% | -0.31% | 2.81% |
| Central Otago District | $928,544 | 0.13% | 0.18% | 3.88% |
| Queenstown-Lakes District | $1,741,997 | -0.32% | -0.72% | 3.44% |
| Dunedin City | $622,644 | 0.19% | -0.17% | 2.13% |
| Clutha District | $474,221 | 0.46% | -0.01% | 2.48% |
| Southland Region | $533,376 | 0.10% | 0.61% | 6.26% |
| Southland District | $583,368 | 0.83% | 1.27% | 7.90% |
| Gore District | $473,916 | -0.06% | 0.89% | 2.70% |
| Invercargill City | $535,274 | -0.16% | 0.36% | 6.13% |
| Total New Zealand | $806,512 | -0.22% | -0.77% | -0.91% |
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