A sense of 'cautious confidence' as prices remain stable.

The property market across Hauraki–Coromandel continues to balance between increased stock, cautious buyers, and shifting lending conditions. National and Auckland trends show a softening in values, and while our region often dances to its own tune, we are not entirely insulated.

National Overview

Across New Zealand, August brought a 1.2% quarterly dip in average property values, leaving the national figure at $957,000—exactly the same as this time one and two years ago. Auckland led the declines with a sharp 2.8% quarterly fall to $1.26 million, with suburbs like Meadowbank down more than 7%. Outside of Auckland, only a handful of regions—Taranaki, Tasman, Southland, and Northland—recorded modest growth.

• National Average Asking Price $862,652
• Average property value (NZ): $957,000
• Quarterly movement: –1.2%
• Regions with growth: Taranaki, Tasman, Southland, Northland (all <1%)
• Auckland values: down 2.8% to $1.26m

While values are flat to falling, supply is increasing. National stock rose more than 6% year-on-year, meaning buyers are enjoying more choice and a touch more negotiating power.

The Interest Rate Effect

The Reserve Bank’s rate cuts are the quiet game-changer. Since August 2024, the OCR has been reduced by 225 basis points, with mortgage rates easing around 20%. Affordability remains stretched—property still sits at around six times average household income—but borrowing costs are coming down, and that’s starting to draw cautious buyers back into the market. Anecdotally however banks are still very tough to deal with.

• OCR now: 3%
• Forecast: Potential to ease further to 2.5% in 2026
• Impact: Mortgage repayments easing, lending confidence improving

Hauraki–Coromandel in Focus

Closer to home, the region reflects both resilience and hesitation. August’s data showed average asking prices at $674,500 for Hauraki District and $1,128,745 for Thames–Coromandel. High-end listings, particularly coastal properties, continue to hold attention, while mid-tier homes face a more selective buyer pool.

• Hauraki District: $674,500 average asking price
• Thames–Coromandel: $1.128m average asking price
• Trend: High-end properties stronger; mid-market more price-sensitive

What This Means for Sellers and Buyers

Sellers face a more competitive environment. With listings rising, it is crucial to stand out through presentation and realistic pricing. Buyers, meanwhile, have a window of opportunity to purchase well before confidence fully returns and price momentum builds again.

For Sellers:

• Price realistically and expect negotiation.
• Presentation matters—staging, photography, and maintenance make a difference.
• Leverage lifestyle appeal for premium listings.

For Buyers:

• Take advantage of increased choice and softer values.
• Watch lending conditions—each rate cut improves affordability.
• Move decisively on well-priced, quality listings.

Looking Ahead

The market still feels like it is in a holding pattern—waiting for spring momentum and further rate relief. Forecasts suggest 2025 may end broadly flat, with stronger gains expected in 2026 as lower interest rates bite and confidence builds. For Hauraki–Coromandel, that could mean a competitive summer season, particularly in our lifestyle and coastal markets.