Author: MIL-OSI Publisher

The average New Zealand residential property value has decreased slightly with values in the main centres easing due to high stock levels and cautious buyer sentiment, while some regions saw significant gains.
 
The latest QV House Price Index shows the average national home value fell 0.3% over the June quarter to $910,479, leaving values 0.6% lower than a year ago and around 14.5% below the market’s peak in late 2021.
 
Values rose in Queenstown and Invercargill, while creeping up a little in Whangarei, Hamilton, Tauranga and Christchurch, while Auckland, Wellington and Dunedin recorded further declines, highlighting ongoing variability across the main urban areas.

QV National Spokesperson Andrea Rush said buyers were taking advantage of increased choice and easing interest rates, with first-home buyers and owner-occupiers remaining the most active, particularly in lower to mid-value areas where affordability is within reach.

“Regional divergence is becoming more evident, with more affordable markets recording notable quarterly gains such as Wairoa (12.6%), Gore (8.8%), Buller (6.2%), the Far North (5.8%) and Waitomo (5.2%), while others continue to track lower due to economic uncertainty and a cautious buyer pool,” Ms Rush said.
 
She noted that falling interest rates are easing affordability pressures. The Reserve Bank reviews the OCR this week, with some expecting a 0.25% cut, though many predict it will hold at 3.25%.
 
“Some buyers may be anticipating lower rates, with bank activity back to mid-2022 levels after the market peak,” she said. “However, it’s unclear how much of this reflects new purchases versus refinancing.”
 
“Ongoing global conflict, economic uncertainty, and rising living costs are likely to limit any significant upswing in the near term.”

Northland

The upswing in the Northland market continues with values rising 2.1% in the three months to June. The average value across the region is $741,628. Values are now just 0.6% lower year on year.

In the three months to June, values in the Far North rose a massive 5.83% and the average property value jumped nearly $10,000 from $705,192 in the June quarter to $714,029. In Whangarei, the average value is $736,179 after a slight quarterly rise of 0.3%. While Kaipara’s average value is $841,032, after a slight 0.7% lift over the quarter.

Auckland

The Auckland property market saw values edge down overall in June as high stock levels and cautious buyer sentiment continued to weigh on prices, with some localised pockets of resilience emerging across the Super City. The average home value across the Auckland Region dropped 1.0% in the June quarter and is now $1,232,340, which is 1.4% lower than in June 2024 and 18.8% lower than the market’s nationwide peak of late 2021.

In the June quarter the only area to see values increase was the local council areas previously known as Auckland City (0.1%).  While other areas of the region saw a decline in values over the quarter; Manukau (-1.2%); North Shore (-1.7%), Waitakere (-1.0%), Rodney (-0.04%), Papakura (-0.1%); and Franklin (-0.6%).
 
QV Auckland Registered Valuer, Hugh Robson said the Auckland housing market is much the same as last month, with high levels of stock on the market across most suburbs helping to keep prices fairly stable.
 
“For now, buyers have the upper hand, with many agents continuing to report low attendance numbers at open homes. Some buyers are making cheeky offers to see what might be accepted in the current market,” Mr Robson said.
 
Despite these conditions, he noted steady activity from first-home buyers, particularly in the city’s low to medium value suburbs, where affordability remains within reach.
 
“New multi-townhouse developments also continue to be built across the city, adding to the options available for buyers and renters alike. Interest rates remain relatively low, providing some comfort for those entering the market, while rental levels are fairly stable at the moment,” he said.

Waikato

The latest QV House Price Index shows Hamilton’s average home is now worth $791,707, with values continuing a slight upward trend from last month, rising 0.5% over the June quarter. Values are now 1.2% higher than this time last year and 13.4% lower than the nationwide peak of late 2021.

QV Hamilton Registered Valuer Marshall Wu said the Waikato market was continuing to show a ‘generally positive trend’ this year, with Hamilton City and several major districts recording modest value growth so far in 2025.
 
“There’s been some renewed confidence among buyers and sellers as the OCR has remained lower for a sustained period, helping to support market activity and making housing a bit more accessible for first-home buyers. However, with inflation on the rise, the market now expects only limited further cuts in the months ahead,” he said.
 
“A soft economy, lower population growth, and global uncertainty are still constraining housing demand across the region. Real estate agents are telling us there’s still plenty of stock on the market, and sellers are having to adjust expectations on price. Buyers, meanwhile, are being cautious in light of a looser labour market and persistently high unemployment.
 
“Overall, we’re still expecting values to post a modest rise in 2025, but it’s likely to be at a slower pace.”
 
The Waikato Region demonstrated strengthening market activity in June with a 1-month increase of 0.1% and a 3-month gain of 0.5%. The average home value now stands at $818,230, up from $791,909.
 
The Waitomo District surged 4.9% over 3 months and 5.2% annually, while the Taupo District recorded a -6.6% half yearly drop. Hauraki values also rose 1.1% over the June quarter and are 4.1% higher year on year; while Thames/Coromandel inched up by 0.1% in the June quarter and 1.4% year on year, while the Waikato District was up 2.1% over the past three months and 1.6% year on year.  Ōtorohanga and Waipa districts, also recorded quarterly gains of 0.2% and 1.8% respectively. While South Waikato values decreased 2.5% over the quarter.

Bay of Plenty

Home values in Tauranga are essentially flat, rising just 0.1% over the past three months to an average of $1,024,609. This is 0.3% lower than a year ago and 12.2% below the nationwide peak of late 2021.

Across the Bay of Plenty, the average value is also flat, dipping 0.3% this quarter to $887,954 and 0.3% annually.
 
QV North Island Revaluation Manager Sophie Treder said, “In Tauranga, values have held steady, with only a slight lift over the past quarter, while across the wider region, average values have seen a marginal decline.”
 
She noted owner-occupiers and first-home buyers continue to be the main drivers of activity, with an uptick in investor interest adding to market dynamics. “Most sellers are setting prices that align with market conditions, although some are entering the market with higher expectations before adjusting to meet buyer sentiment,” she said.
 
Rotorua and Gisborne recorded quarterly declines of 0.5% and 0.9% respectively, while Whakatane fell 1.4%. Opotiki District saw the largest drop in the region, down 6.6% for the quarter. Kawerau District was the only area to record growth, with values up 3.0% in the three months to June.

Hawkes Bay

Napier City home values were flat, up just 0.1% over the past three months to a new average value of $755,772 which is 0.7% lower year on year and 15.3% lower than the previous peak of January 2022. Hastings values rose 0.7% over the past three months to a new average of $774,602 which is 1.8% lower than the same time last year and 15.8% below the nationwide peak of late 2021.

Meanwhile, Wairoa saw values one of the highest increases in the country rising 12.6% in the three months to June and 27.2% year on year to a new average value of $483,244. While Central Hawke’s Bay District increased 0.9% over the quarter and values are 3.2% lower year on year with a new average value of $553,179.

Taranaki

The Taranaki region has seen a recent positive trend with home values up 0.4% over the past three months and 1.7% in the year to June. In New Plymouth, values rose 0.2% in the June quarter and are 1.4% higher year on year with the average home now worth $725,326 which is 2.8% lower than the peak. Values continued to rise in South Taranaki, up 2.6% over the quarter to June, and 3.7% year on year to $448,875; while Stratford dropped 2.4% over the quarter to an average value of $487,455 which is 1.6% higher year on year.

QV New Plymouth Registered Valuer Danny Grace said the Taranaki market was maintaining steady momentum, with values holding firm across much of the region.
 
“In New Plymouth, activity has picked up, and there’s more confidence among buyers and sellers, particularly in the lower end of the market where demand remains healthy,” he said.
 
Mr Grace noted that while interest in well-located, modern homes was steady, the higher end of the market was seeing less buyer interest, with longer selling times and fewer active purchasers.
 
“While the region isn’t experiencing rapid growth, the market is holding its ground, supported by a consistent level of demand, particularly from buyers focused on more affordable segments,” he said.

Palmerston North

Home values in Palmerston North dipped 0.5% over the June quarter and homes there are now worth on average $632,536, which is 0.8% lower than this time last year and 13.5% below the nationwide market peak in late 2021.

QV Palmerston North Registered Valuer Olivia Betts said the Palmerston North property market was showing signs of softening, with prices edging down slightly in recent months.

“It’s not a dramatic drop, but this easing reflects broader market conditions and seasonal tr

 ASB has partnered with global carbon management fintech Cogo to launch a new online calculator which enables Kiwis to measure, understand and optimise the efficiency of their home and vehicle, helping to lower costs, while making their homes more sustainable.

When homeowners are ready to upgrade, they can use the Better Energy Calculator to view and compare options and energy savings that are specific to their property. By choosing to switch heating, appliances or their vehicle to electric, ASB customers stand to benefit from installation discounts and could borrow up to $80,000 at 1% for up to three years through the ‘Better Homes Top Up’ for eligible upgrades.

ASB Lend and Protect Tribe Lead, David Jackson says: “The Cogo team are experts in their field at building technology that has great economic and environmental value. We’re thrilled to be leading the way by providing this online tool to our customers and to all Kiwi.

“Based on research conducted by Rewiring Aotearoa,[1] consumers could save up to $3,000 per year in energy costs with changes such as switching to an EV when it’s time for a new car and replacing old gas appliances with electricity. It means that customers looking to upgrade, are able to make an informed decision on cost-effective long-term choices that are also sustainable.”  

ASB is the first bank in New Zealand to offer Cogo’s Home and Vehicle Electrification solution. It’s part of an ‘electrification ecosystem’ on ASB’s website, which offers personalised suggestions on changes energy users could make, and the upfront costs and potential savings of these changes.

For example, the Better Energy Calculator shows that for a four-person dwelling in the Auckland suburb of Birkenhead, a homeowner could save $1,400 per year by switching their heating, hot water and cook tops to electric, with upfront costs from $15,500. Adding solar to the home increases potential savings by an additional $1,600 per year, based on upfront costs from $11,000. In fact, if they go electric with their next vehicle (costing $49,990), this homeowner could save another $1,200 per year on car running costs. [2]  

With a click of a mouse, people can connect directly with Cogo’s trusted installers offering exclusive discounts, and with the ASB team, who can support with financing of upfront costs. The Better Energy Calculator even removes the hard work of research by suggesting EVs most similar to the user’s existing vehicle.

Cogo founder and CEO, Ben Gleisner says: “We share a strong alignment with ASB in our mission to encourage people to take personal action on climate change, and electrifying their homes and cars is a great way to start.  Success for us would be thousands of Kiwi making changes that save them money and reduce their carbon footprint.”  

The Better Energy Calculator is available now, to anyone, on the ASB website: Get better energy with ASB (ref. https://www.asb.co.nz/home-loans-mortgages/better-energy.html )

[1] Rewiring Aotearoa, Electric Homes Report (ref. https://www.rewiring.nz/electric-homes-report )
2 Upfront costs represent the initial outlay for the product only and do not include finance or interest rates which vary.

Covering period of Monday 7th – Thursday 10th July – The last week of the school holidays kicks off with settled weather for most, with plenty of opportunities to get out and about before things take a turn towards the end of the working week.

Clear skies and high cloud keep temperatures cool in northern and western parts of the country, with frosty mornings continuing until mid-week. Auckland started off the week with a chill in the air, with Auckland Airport reaching its second-lowest temperature of the year on Monday morning, at just 5°C.  

The start of the week is a great time to wrap up warm and head outside with the kids, MetService meteorologist Silvia Martino says: “With just a few showers here and there, it shouldn’t dampen anyone’s enthusiasm for outdoor adventures.”  

It's quite a different story in the east, where the weak midwinter sun struggles to break through a chilly blanket of drizzly low cloud. Fog lingers in the valleys of the South Island, making for gloomy grey skies from the ground, but bluebird days on the ski fields floating above it all.

The script starts to flip from Wednesday, with showers in the west and drier days in the east. However, that is just a taster, as the end of the week into the weekend looks to have a wetter weather system in store. Meanwhile, daytime temperatures slowly creep up into the mid to high teens for most by the end of the working week.

Keep up to date with the latest weather forecasts at metservice.com, or download the MetService app to personalise what you want to see.

Te Herenga Waka—Victoria University of Wellington’s International Institute of Modern Letters (IIML) is delighted to announce the appointment of Nafanua Purcell Kersel as the Emerging Pasifika Writer in Residence for 2025.

Nafanua, a Sāmoan writer and performer, is based in Heretaunga, Te Mātau-a-Māui (Hawke’s Bay). She will use the residency to work on a stage adaptation of her debut poetry collection Black Sugarcane, as well as a new book of poems.  

Her aspiration is to create work that creates more. “More alofa, more creativity, more understanding in our communities and worlds,” says Nafanua.  

Nafanua has a background in facilitation and community storytelling, including her role with Nevertheless NZ, where she leads the storytelling programme and runs creative writing workshops with Māori, Pasifika, and Rainbow+ communities. Her creative work includes poetry, theatre and spoken word, often centring on themes of intergenerational memory and Pasifika knowledge systems.  (ref. https://neverthelessnz.com/ )

Black Sugarcane, published in 2025 by Te Herenga Waka University Press, grew out of Nafanua’s Master of Creative Writing at IIML, for which she won the 2022 Biggs Family Prize in Poetry. Her poetry has appeared in anthologies and in various literary journals including Cordite, Landfall and Turbine l Kapohau.  

Nafanua says it is a privilege and an honour to receive this award.  

“I admire each of the previous recipients, and feel humbled to have been chosen to follow on from them.  

“My wish is to write work which offers an insight into the complexity of community and the subtle work of shared stories, through my own experiences, dreams, and observations. My goal for the residency is to produce work which is mana-enhancing and unapologetic in its cultural depth. Fa’afetai, fa’afetai, fa’afetai tele lava mo le avanoa.”
Nafanua will receive a stipend of $15,000 to write her new work at the IIML for three months. She will also work with a mentor during the residency.

Damien Wilkins, Director of the IIML, says Nafanua’s wonderful first book of poems shows her to be a highly skilled writer with new things to say.  

“We’re excited to see her work develop. The IIML is also very appreciative of the support of the University and Creative New Zealand.”