17/05/2026
Monthly Property Update: Kerikeri / Waipapa / Waimate North
Totals April sales came in at a miserly 15, the lowest since April 2024, and 11 below the 12 month rolling average. Of the 15 sales, 13 were residential or lifestyle with a dwelling and two were bare lots.
The highest priced sale was $2.38M for a large high spec home on 1.5 hectares. The median price was $970k, exactly the same as March, but the average was $1,145k due to two high priced sales having such an influence on a small data set of 13.
One might think it’s all doom in gloom with sales numbers like that, and no doubt about it, it was very quiet for most of April and early May. And it was hard to decipher if it was due to the war in the Middle East and the resulting gas prices, the very sluggish economy, being an election year, or the weather which was for the most part crapola, (a technical term).
But now that we have some duration of sunshine, all of a sudden, I am busy and have 4 or 5 properties in play. Long may it last! No doubt there is a bit of catch-up activity due to all the bad weather, but it does show the market has some life in it, as an agent, you really do have to work for hard everything at the moment, but that’s ok, that’s the job.
In regards the economy, as mentioned in my last update, the Reserve Bank is in a rock and a hard place, as the Q1 2026 inflation came in at 3.1%, slightly above the target ban of 1% - 3%, and Q1 wouldn’t have had the full impact of the rise in energy prices, in fact it would have captured very little of it. I think everyone can feel prices rising around them, be it groceries or plumbing supplies. However, this isn’t demand driven, its supply driven, so the Reserve Bank raising rates as they are mandated to will have little impact on inflation but will have a severe impact on a fragile economy.
It was recently reported that NZ unemployment is at 14 year highs at 5.3% and business failures at 15 year highs, which really is going back to the aftereffects of the GFC and have even superseded pandemic era levels. So, hopefully the Government is listening, as they may have to change the RBNZ mandate which is unfit for purpose in my opinion. It may be helpful the US didn’t raise rates despite their inflation date coming in higher. We will find out after their next meeting on the 27th of May.
Listing levels have remained reasonably steady, rising a little in the last month or two. It’s not surprising with weaker sales, but there is also another factor that I have personally been contributing to. Over the last few weeks, I have been rolling out my new subdivision listings into individual listings for each lot. So this means rather than just having one main listing for 8 lots or 18 lots in another instance, I have been trickling out listings for each lot, so this has certainly had an impact, in fact if you look at the attachment, the number of houses listed has actually decreased in the last five months whilst total listings have increased.
Until next time, Simon Disclaimer: These are the writer’s personal views and should not be considered advice. Follow me on Facebook: Simon Upperton Borders Real Estate Northland
