WELLINGTON, Sept. 15 (Xinhua) -- New Zealand's national median house price fell 1.3 percent year on year to 750,000 NZ dollars (431,543 U.S. dollars) in August, while sales activity slowed significantly, according to data released on Tuesday.
The number of homes sold fell 13 percent from a year earlier to 5,430, the sixth lowest August total in 35 years of the Real Estate Institute of New Zealand (REINZ) records, according to a REINZ property market overview.
Properties took a median of 51 days to sell, three days longer than in August 2025, it said, noting the REINZ house price index fell 0.9 percent year on year, indicating relative stability in national property values despite weaker transactions.
Regional performance varied considerably, with a clear difference between the North and South Islands, according to REINZ.
National inventory rose 9.7 percent year on year to 32,908 properties, while new listings fell by 5.1 percent to 8,326 in August 2026, it said.
REINZ CEO Lizzy Ryley said in a statement that members generally expect market conditions to remain broadly steady in the coming months, although borrowing costs, job security, the November general election and local stock levels would influence activity. ■