Feature article

2025 ended on a soft note but values should rise in 2026

Looking toward this year in property.

Kelvin Davidson
Last updated: 12 January 2026 | 4 min read
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The NZ property market ended 2025 on a soft note, with Cotality reporting a "broadly flat" year. December saw mixed results in main centres, with Auckland falling while Christchurch and Dunedin rose. Provincial markets like Southland remained resilient.

Looking ahead, Cotality forecasts a gradual recovery in 2026, with national values potentially rising by 5%. Key factors to watch include Debt-to-Income (DTI) restrictions and the upcoming election, suggesting a slow turn rather than a sudden seller's market.

The numbers at a glance

A "broadly flat" 2025

The outlook for 2026

Author

Kelvin Davidson Kelvin Davidson
Chief Property Economist, Cotality