13/09/2026
Hawke’s Bay Property Brief — Monday 14 September
The main change this week is not a sudden move in Hawke’s Bay prices — it is a firmer “higher-for-longer” interest-rate backdrop and growing acceptance that the recovery in house prices will be slow rather than spectacular.
Napier
Current suburb data still shows a very mixed market. Greenmeadows is around $800,000, up 1.3% over the previous 12-month period, with 39 days to sell. Taradale is about $742,000, down 2.4%, with 39 days to sell. Napier Hill is considerably softer at roughly $775,000, down 13.9%, and 56 days to sell.
Sales message: buyers are paying for value, not simply postcode. Premium or unusual stock can sit substantially longer if the vendor starts too high.
Hastings
Hastings remains the stronger story on speed. Current rolling data has the central Hastings market at about 24 median days to sale. Akina is around $645,000 with 34 days, while Parkvale is around $665,000, down 5.0%, with 28 days to sale.
That still supports a strong vendor message: there are buyers ready to act quickly at the affordable/middle end when the price makes sense.
Havelock North
Havelock North has barely changed: the rolling 12-month median is currently about $960,400, down 3.4%, with 44 days to sale. Median asking price remains close to $999,000, down 3.1%.
That asking-versus-sale-price dynamic remains important. Havelock North vendors generally need more patience — and more realism — than mainstream Hastings vendors.
Interest rates — important change
After the OCR increased to 2.75% on 2 September, all five major banks increased floating mortgage rates by around 25 basis points.
Fixed rates remain lower, but the direction is no longer obviously downward. As at 11 September, the lowest advertised major-bank rates tracked by Opes were approximately 4.75% for six months, 4.95% for one year and 5.39% for two years.
That means buyers can still finance reasonably well compared with recent history, but they no longer have falling interest rates encouraging them to stretch their offers.
A notable new market outlook
ASB released a significantly more subdued housing forecast last week. It expects roughly flat national house prices in 2026, around 3.5% growth in 2027, and says nationwide prices may not return to their 2021 peak until around late 2029. ASB points to higher borrowing costs, increased housing supply, lower population growth and plenty of existing listings.
For vendor conversations, that is useful am******on against the idea of “I’ll wait six months and get another $50,000.”
Compliance change worth knowing
The REA issued new m**hamphetamine disclosure guidance effective 7 September 2026, replacing its 2018 guidance. It covers licensees’ disclosure obligations, discussions with vendors, testing and decontamination. That is worth reviewing before dealing with any property where m**h contamination is known or suspected.
Vendor talking point for this week
“There are buyers in the market, but there’s no strong evidence that simply waiting will produce a materially higher price. Buyers have plenty of choice and borrowing costs are starting to edge up again. The best result is more likely to come from creating competition while the property is fresh than from starting high and hoping the market catches up.”
For Napier and Hastings homes in the mainstream price bracket, I would still favour your short Deadline Sale approach and create urgency immediately.
For Havelock North and $900k+ properties, I would be particularly careful about ambitious pricing. The market can still deliver good results, but buyers have the leverage to wait.
Bottom line this week: price accurately, compress the campaign, and negotiate hard while buyer interest is fresh. The market is functioning — but it is rewarding realistic vendors much more than optimistic ones.
