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The latest report from Quotable Value (QV) shows residential property values nationwide are holding steady… or they’ve flatlined or stagnated, depending on how we look at it.
Values in Papakura and Franklin are in line with this trend.
War, the growing cost of living, pre-election uncertainty and even just the season are contributing to this.
QV’s House Price Index shows average values nationally have grown by 0.2 per cent this quarter to just under a million dollars, 0.3 per cent higher than at the beginning of the year and 0.2 per cent lower than at this time in 2025. The figures are in line with a relatively flat start to the year.
At $1.2 million (approx) Auckland’s average home value is 2.8 per cent lower than at the same time last year and 0.3 per cent less than at the beginning of 2026.
Manukau, Papakura and Franklin were all in step with this trend, with average home values dropping – by 0.3, 0.6 and 0.2 per cent (respectively) – for the quarter.
QV spokesperson Simon Petersen says the market is in a holding pattern, with no real sense of urgency from buyers or sellers, just an abundance of caution.
“Interest rates are always a key consideration and there’s a high degree of restraint given the broader economic backdrop, including cost of living pressures, geopolitical uncertainty and the general election,” he says.
“In late autumn, activity does typically slow down, and that’s likely to keep levels of home value growth relatively subdued at best.”
Looking ahead, this trend is unlikely to change in a hurry, Petersen adds.
“Much will depend on what happens to interest rates and how broader economic conditions continue to evolve, but the most likely scenario is a continuation of the steady, balanced market.
“With very little to suggest home value growth will suddenly take off, or conditions will drastically improve, it’s likely that most buyers will continue to take their sweet time, shop around and wait for the right opportunity.”
For more from the latest report visit www.qv.co.nz.
