Author: MIL-OSI Publisher

Residential property values have remained virtually flat over summer.

Our latest Quotable Value (QV) House Price Index shows the average residential home value increased nationally by just 0.2% in the three months to the end of February 2026, with the national average now sitting at $909,139.

That figure is 0.4% lower than the same time last year but 21.5% higher than in March 2020.

QV spokesperson Simon Petersen said this had been one of the housing market’s flattest summers in terms of home value growth – even more so than the 0.5% average increase over the same period last year.

“Residential property values have remained largely static this quarter, and yet the housing market has continued to tick along with activity remaining relatively robust in many parts of the country,” he said.

Across New Zealand’s main urban areas, Dunedin stood out as the most notable exception to the broader flat quarterly trend. The southern city’s average home value increased by 2.6% over the summer to $652,147, which is 1.0% higher than the same time last year.

Home values increased by almost as much on average in Timaru (2.1%), while Invercargill (1.8%) and Christchurch (1.1%) recorded more modest gains.

“It’s interesting to note the relative strength of property values across much of the South Island compared with the North Island. Of the larger urban areas we monitor on the mainland, only Nelson recorded a small reduction this quarter,” Mr Petersen said.

In the North Island, Auckland’s average home value dipped by 0.3% this quarter to $1,197,960, which is now 3.8% lower than it was one year ago. Wellington city’s average home value decreased by 0.4% to $908,230, leaving it 5.1% lower year-on-year.

“The housing market remains in a state of ‘steady as she goes’ for now. Listing levels and buyer demand are relatively well balanced, helping to keep property values broadly stable for the time being,” Mr Petersen said.

“But optimism seems to be growing as we start to see early signs that the wider economy may be picking up again. This will inevitably have implications for the housing market in the year ahead, as interest rates, employment trends and overall economic conditions continue to shape housing market activity.

“At the same time, global uncertainty and geopolitical tensions mean the outlook remains somewhat murky right now, particularly when it comes to interest rates and inflation. The next month or so should paint a clearer picture of what we can expect in 2026.”
Download a high resolution version of the latest QV value map here.
Northland

Home values remain largely static across the wider Northland region this quarter.

According to the latest QV House Price Index, the average home value decreased by 0.2% across the region throughout the three months to the end of February 2026, with home values in the Far North District (-1.9%) dragging that average down.

Whangarei (0.2%) recorded little to no growth on average, while Kaipara’s home values increased by an average of 2.2%.

Auckland

Home values have remained virtually motionless in Auckland this quarter.

Only Rodney (0.7%) and Papakura (0.4%) recorded modest growth, while Franklin (-0.8%), Manukau (-0.1%), Auckland City (-0.3%), Waitakere (-0.7%) and the North Shore (-0.6%) recorded modest reductions.

Local QV property consultant Matt Hogan said residential property values across the Auckland region were holding relatively steady with just a 0.3% drop overall across the three months to the end of February 2026.

“Sub-area performance was mixed but strong levels of housing stock are still on the market, with good buyer choice and solid buyer activity seen,” he said.

“Good quality and well-presented properties are enjoying high demand, with some strong sale prices being shown. Agents have noted high interest levels at open homes and are generally positive about the market direction.”

On an annualised basis, home values across the wider Auckland region are 3.8% lower on average than the same time last year.

Bay of Plenty

Home values have grown by an average of 0.7% across the wider Bay of Plenty region in the February quarter.

In Tauranga, the average home value is now $1,036,968, up 1.0% this quarter. That figure is 1.6% higher than the same time last year.

Meanwhile, Rotorua experienced a small 0.9% decline in average home value. At $674,733, the average home locally is now worth just 0.5% more than the same time last year.

Waikato

Residential property values have decreased by an average of 0.6% across the wider Waikato region this quarter.

The average value in Hamilton also decreased by 0.6% to $787,511 in the February quarter, compared to a 0.4% increase in the three months to the end of January. That figure is now 0.1% lower than the same time last year.

Meanwhile, values in the districts of Waitomo and Matamata-Piako performed better than the regional average this quarter, rising by 3.7% and 2.2% respectively. South Waikato (1.2%) and Waikato District (1.3%) also experienced modest gains.

Hawke's Bay

Home values did little better than break even across Hawke’s Bay this quarter.

The QV House Price Index for February 2026 shows homes in the region increased in value by an average of 0.6% this quarter. They are now worth just 0.9% more on average than the same time one year ago.

Napier performed slightly better than average this quarter. Its average home value increased by 1.3% to $759,123. Hastings’ average home value saw no movement at all, neither up nor down, at $779,008.

Taranaki

Home value movements proved to be a bit of a mixed bag in the Taranaki region this summer.

The average home value has remained largely stable in New Plymouth this quarter, decreasing by just 0.2% to $719,102. That figure is now 0.9% lower than at the end of February last year.

Meanwhile, the average home value has proven more volatile this quarter in South Taranaki and Stratford, partly due to the comparatively small sample size of sales data, rising and falling by 4% and 3.4% respectively.

Manawatu

The average property value in Palmerston North is virtually the same at the time of writing as it was a year ago.

That is despite a small 0.4% increase over the three months to the end of February, and a 0.8% increase throughout the three months to the end of January. The average home is now worth $637,870.

In his most recent report to local real estate agents, QV property consultant Jason Hockly said residential property values had shown little movement overall in the last two-and-a-half years.

“The price point bracket of $550,000-$650,000 has overall performed strongly so far in 2026, buoyed by first-home buyers. It has been rough for the $1-$1.25m price bracket overall. Large homes greater than 30 years old with little modernisation continue to show low demand,” he said.  

Wellington

There has been minimal home value movement across the wider Wellington region this summer.

The latest QV House Price Index for February 2026 shows home values have been all-but static over the three months to the end of February 2026, rising just 0.1% across the wider region to reach a new regional average of $809,491.

That’s an even smaller increase than the 0.2% increase recorded throughout the three months to the end of January, and the 0.5% decrease recorded throughout the three months to the end of December last year.

Hutt City (1.3%) saw more growth than the other local council areas, with Kapiti (1.1%) and Upper Hutt (0.7%) not far behind. Porirua (-0.8%) and Wellington City (-0.4%) both recorded small decreases in average home value.

On an annualised basis, the average home value in the Wellington region is now 3.7% less than the same time last year.

Nelson/Tasman/Marlborough

Home values remained relatively steady across the top of the South Island this quarter.

The average home value grew by just 0.8% and 1.2% across Tasman and Marlborough this quarter respectively. The average home is now worth $830,617 in the former, and $700,296 in the latter.

Meanwhile, the average home value in Nelson reduced by 1.8% to $777,407. That figure is now 2% lower than the same time last year and 16.7% higher than in March 2020.

QV Nelson/Marlborough manager Craig Russell said slow economic recovery and the high cost of living continued to impact market confidence in the region.

“Stock levels across Nelson and Tasman are at their highest levels for a year and continue to climb. A number of these properties have been on the market for an extended period and require realistic pricing if they are to sell,” he said.

“Most of the buyer activity is in the $500,000-$800,000 price bracket, which is predominantly the first-home buyer market, with most buyers looking for tidy modern homes as opposed to properties in need of significant renovations.”

West Coast

Home values across the wider West Coast region have reduced by 1.6% over the three months to the end of February 2026, according to our latest QV House Price Index. The average home value is now $442,874, which is 6.2% higher than the same time last year.

Of the three districts that make up the West Coast region, Westland District recorded an average increase for the three-month period of 1.8% and an average value of $490,788 – up 8% from 12 months ago.

Grey District recorded an average decline of 1.8% for the three-month period and an average value of $465,549, which is 4.1% higher than it was 12 months ago.
The Buller District recorded a decrease for the three-month period of 4.1% on average and an average value of $376,553 – up 8.2% from 12 months ago.

Local QV registered valuer Rod Thornton said the index indicated a general slowing of growth, despite markets remaining active.

“These statistics should be interpreted with some care, as sales volumes tend to be lower in regions like the West Coast, as they were over the Christmas period, and there is a wide mix of housing types, locations, price points and value drivers which can cause figures to fluctuate,” he said.

“A case in point is the Buller District, which to the end of January 2026 recorded a three-month reduction of 9.2%. That has turned around now, following a 4.6% increase in February alone.”

Canterbury

Residential property values in Canterbury recorded only modest growth this summer overall.

The Garden City’s average home value grew by 1.1% to $795,556 throughout the three months to the end of February. Homes here are now worth 3.3% more on average than the same time last year.

Home values in Waimakariri (1.9%) increased by more than average this quarter, while Hurunui (-0.4%) and Selwyn (-0.1%) both recorded modest reductions.

“Christchurch city has remained steady this quarter with good activity in all residential classes,” said local QV registered valuer Michael Tohill.

“Likewise, the Selwyn market remains busy with a large number of new builds in Lincoln, Rolleston and Darfield. The market for lifestyle and new-build properties in Waimakariri has also been busy with good sales turnover.”

Meanwhile, average home values have lifted in Mackenzie (3.1%), Timaru (2.1%) and Ashburton (0.4%) throughout the three months to the end of February 2026.

Otago

Home values have grown more in Dunedin than in any other city this summer.

The average home in the southern city is now worth $652,147, up 2.6% for the February quarter and up 1% annually. That compares to a national average of 0.2% growth for the quarter and a small deficit of 0.4% annually.

Home values in Queenstown also increased by 0.2% this quarter. Its average residential property is now worth $1,919,519, which is 5.4% higher than the same time last year.

Southland

Property values in Invercargill outperformed the national average this summer.

The average home value increased by 1.8% to $537,167 throughout the three months of summer. Homes here are now worth 7.4% more on average than at the same time last year.

Average home values in Gore and Southland are also 7.2% and 7.5% higher annually respectively.

You can check value changes over time in your region with QV’s interactive map on www.qv.co.nz/price-index/

The QV HPI uses a rolling three month collection of sales data, based on sales agreement date. This has always been the case and ensures a large sample of sales data is used to measure value change over time. Having agent and non-agent sales included in the index provides a comprehensive measure of property value change over the longer term.

KiwiSaver investors increasingly exposed to companies linked to human rights abuses

New analysis shows KiwiSaver investments in companies linked to human rights concerns have surged, despite human rights violations remaining the top ethical priority for New Zealand investors.

KiwiSaver investments in companies identified as contributing to human rights harms have increased sharply. Over the past six months alone, investments in these companies rose 43 percent, reaching more than $3.5 billion. This has been fuelled by both an increase in the number of companies identified as violating human rights, as well as increased investment in those companies.

Yet public surveys conducted over the past six years consistently show that avoiding human rights abuses is the number one concern for KiwiSaver members in New Zealand when deciding where their retirement savings should be invested.

“These findings highlight a growing gap between what New Zealanders want from their investments in terms of human rights, and where their money is actually going,” said Barry Coates, founder of Mindful Money.

“New Zealanders consistently say they do not want their retirement savings linked to labour exploitation, abuses of children, gender discrimination, harm to vulnerable communities or companies contributing to conflict. Yet billions of dollars are still invested in companies connected to these risks.”

There is also increasing public awareness of the human impact of labour exploitation within New Zealand. A new podcast from Mindful Money interviews Pearl Valor, who speaks about her labour experiences growing up in the Gloriavale Christian Community.  Together with Brian Henry, Barrister for Pearl Valor and Founder of Always-Ethical – AE KiwiSaver Plan.

“People need to understand that exploitation can be hidden in plain sight,” says Valor. “When communities or companies operate without accountability, the people inside them can lose their freedom, their wages and their voice.”

Greater awareness is the first step toward protecting human rights. The Modern Slavery Bill introduced to New Zealand Parliament in February 2026 marks significant progress towards more ethical supply chains, and addressing the issues of slave and forced labour in Aotearoa.

Coates says investors have a powerful role to play.

“KiwiSaver providers need stronger policies to screen out companies linked to serious human rights harms. New Zealanders deserve confidence that their retirement savings are not contributing to exploitation or conflict.”

Human rights concerns increasingly relate to harmful corporate practices rather than harmful products themselves. While fund providers screen out issues like tobacco and gambling, few have active screens to avoid investing in harmful behaviour like human rights violations.

“My aspiration is that current members of Gloriavale, now equipped with access to news and the internet, will be empowered to acquire financial literacy and independence, and become aware of beneficial resources such as KiwiSaver.” Says Pearl” says Pearl

“I will always be grateful to Brian for his commitment to justice for those leaving the Gloriavale Community. Through this work, I and many others have been able to step into a freer world that we were never allowed to see. Modern-day slavery is real and it exists in New Zealand today. Brian is helping expose this injustice and is standing up for those who were denied their freedom, their wages, and their voice.” Says Pearl

In recent years, attention has increasingly focused on the activities of major technology companies, particularly around surveillance, social media harms and their use in conflict situations. Companies identified as raising human rights concerns include Meta, Tesla, Thermo Fisher Scientific and Palantir Technologies.

Concerns have also grown over investments in companies linked to the ongoing conflict in Gaza, the West Bank and Ukraine.

Despite concerns from members of the public, KiwiSaver investments in companies providing weapons, surveillance technology or other support linked to these conflicts increased 14 percent between March and September 2025, reaching $856 million.

Companies receiving increased investment during this period include IBM, Booking Holdings, Palantir Technologies, Motorola Solutions and Caterpillar.

“Where money flows, systems follow. Ethical investment redirects capital away from modern slavery and toward dignity, transparency, and fair work.” says Brian

“These are major global corporations, and New Zealand investors have only a small share of their capital,” Coates said. “It is unlikely that fund managers sending letters or voting a few shares will change their practices. If companies are linked to human rights violations, fund providers should respect the wishes of their clients and avoid investing in them.”

Mindful Money identifies companies associated with human rights concerns on its website, including those linked to Palestinian human rights issues, which are marked with an OPT symbol so KiwiSaver members can see whether their funds are invested in them.

Mindful Money is calling on KiwiSaver providers to strengthen their human rights screening and divest from companies associated with human rights violations.

People power

Members of the public can easily see what their fund is investing in by going to the Mindful Money website www.mindfulmoney.nz. Mindful Money is a charity and provides transparency to KiwiSaver and retail funds investors.

“All investment decisions for the AE KiwiSaver Plan are undertaken in-house, reflecting Brian Henry’s ethical management approach and his ongoing commitment to justice, which is currently demonstrated through his involvement in the Gloriavale case.” says Sandra Clark (CEO)

Members of the public can check what is in their fund using the free Fund Checker.

Notes:

Mindful Money publishes the methodology for companies that have a record of breaching internationally-agreed human rights norms. Methodology here.

https://mindfulmoney.nz/learn/how-does-mindful-money-identify-companies-who-have-breached-human-rights/

Human rights violations are shown in the categories of breaches of labour rights; war and conflict; corruption and breaches of business ethics; public health and safety; and other violations including privacy and indigenous peoples’ rights.

Link to YouTube Gloriavale interview

https://youtu.be/b12McipxAZA?si=7tVIaqY2lBfOaqcL