20/09/2026
First-home buyers were the most active buyer group in August, supported by workable interest rates and the availability of more affordable stock. Investors were also active where returns were favourable, while buyer activity at the upper end of the market was quieter. Local agents also reported growing enquiry from Australian-based buyers, supported by the favourable exchange rate. It is important to note that YOY comparisons have been influenced by a 102-section release at Hanley’s Farm in August last year.
Vendor price expectations were generally realistic, although some were prepared to wait longer for a buyer willing to meet their preferred price. Open homes continued to be well attended. In auction campaigns, aligning vendor expectations with market conditions remained important, along with a willingness to negotiate.
Market conditions continued to favour buyers, although overall sentiment remained steady. Interest rates, global uncertainty and the lead-up to the general election continued to shape decisions. Local salespeople anticipate greater clarity following the election, while lower stock levels and the limited availability of properties matching buyer preferences may influence activity over the next few months.
Disclaimer: Data sourced from REINZ. Data encompasses Queenstown and Arrowtown Wards.