Auckland & North Shore Property Market Update – February 2026

February was a busy month — and there's a lot here to feel good about.

Auckland recorded its strongest February for sales since 2021. Barfoot & Thompson moved 785 homes, and across the full market, REINZ saw transaction volumes at a five-year February high. Buyers are active. They're out looking, they're making offers, and deals are getting done.

Yes, the median price came in lower than January. Some of that is seasonal — the mix of what sells in February tends to skew toward entry-level. But the headline number also reflects just how much choice buyers have right now, with stock levels elevated across the city. The message for sellers isn't to panic — it's to make sure your property stands out and is priced to attract the buyers who are already in the market.

The good news? Those buyers exist, and there are more of them than there were 12 months ago.

The Auckland Numbers

Barfoot & Thompson

Barfoot & Thompson handle around a third of all Auckland residential sales, making their monthly data the most useful real-time read on the market.

Homes sold	785	Best February since 2021
New listings received	2,252	Strong buyer choice
Median selling price	$904,000	Active entry-level market
Average selling price	$1,013,976	Mid-market transacting
Total homes on the market	6,159	Well-supplied market

The volume story is the one to focus on. 785 sales in February — the best in four years for that month — tells you buyers are engaged. The median reflects a high proportion of entry-level transactions (nearly a third of sales were below $750,000), which pulls the headline figure down without necessarily reflecting what's happening at the mid and upper end of the market.

REINZ Data

REINZ captures the full market across all agencies and provides a broader picture of where things are sitting.

Measure	February 2026	vs Last Year
Auckland median price	$1,014,000	+1.4% YoY
Auckland sales	~1,956	Best Feb since 2021
Median days to sell	~52 days	Selling in under 2 months
Auction sales (Akl)	583	30% of total — method working
National median	$795,000	+3.2% YoY
National sales volume	6,523	+0.3% YoY

REINZ's Auckland median of $1,014,000 is up 1.4% on February last year — a reminder that year-on-year, the market is holding.

Auctions remain a viable and active method, with 583 properties selling under the hammer in February. When a property is well-presented and priced right, buyers compete.

The House Price Index

The REINZ HPI is a mix-adjusted price measure — less affected by what type of properties happened to sell in any given month. Auckland's HPI was down 1.1% year-on-year in February, consistent with a market that is flat-to-slightly-soft rather than in any kind of freefall.

Nationally, the HPI is 14.6% below its 2021 peak — but that peak was an extraordinary moment driven by record-low interest rates and a once-in-a-generation stimulus. Measured against pre-Covid 2019 values, Auckland prices are still comfortably higher. The market has recalibrated, not collapsed.

North Shore — Closer to Home

The North Shore had a strong February for activity. 348 sales — up nearly 20% on the same month last year — is the best February we've recorded in our dataset. Buyers are here and they're transacting.

Sales in February	348	▲ +19.6% vs Feb 2025
North Shore median price	$1,180,000	Recovering from soft Jan
Month-on-month change	+3.4%	Up from $1,141,631 in Jan
Median days to sell	61 days	Properties moving steadily
12-month rolling median avg	~$1,199,000	Stable foundation

The month-on-month bounce from January's $1,141,631 to February's $1,180,000 is encouraging — and consistent with the broader seasonal pattern of February picking up from a slow January. More importantly, the volume of 348 sales shows genuine buyer depth on the Shore.

At $1,180,000, the median is sitting about 16% above the wider Auckland REINZ median — that's the North Shore premium, and it's holding within its historical range. The quality of the suburb, the school zones, and the lifestyle appeal continue to underpin demand.

The Last 12 Months

Month	Median Price	YoY Change	Sales	Days to Sell
Mar 2025	$1,220,000	–1.0% YoY	406	42 days
Apr 2025	$1,150,000	–7.3% YoY	345	37 days
May 2025	$1,170,000	–4.0% YoY	322	48 days
Jun 2025	$1,190,000	–0.8% YoY	276	51 days
Jul 2025	$1,150,000	–5.4% YoY	317	46 days
Aug 2025	$1,165,000	+2.4% YoY	298	44 days
Sep 2025	$1,176,000	+4.3% YoY	337	39 days
Oct 2025	$1,215,000	–0.4% YoY	396	40 days
Nov 2025	$1,290,000	+8.2% YoY	408	39 days
Dec 2025	$1,250,000	+3.3% YoY	360	42 days
Jan 2026	$1,141,631	–9.1% YoY	121	60 days
Feb 2026	$1,180,000	–7.5% YoY	348	61 days

 Look at the second half of 2025 and you'll see a market that found its footing. Volume was consistently strong from August through December — over 300 sales every month, and November hitting 408. The North Shore tends to come alive in spring and summer, and last year was no exception.

January always pulls back (it's a holiday month), which is why the February rebound matters — it shows that underlying demand is still there. With rates continuing to ease and buyer confidence building, the conditions for a solid winter and spring selling season are taking shape.

Interest Rates & What's on the Horizon

The interest rate story over the past year has been a good one for the property market. The RBNZ has been cutting, banks have been passing those cuts through, and homeowners are starting to feel the benefit.

Where Rates Are Now

The OCR is sitting at 2.25% — down significantly from its 5.50% peak. One-year fixed rates from the major banks are currently in the 5.4–5.6% range, and two-year rates are even keener. For anyone who locked in at 6.5–7% a couple of years ago and is now refixing, that's a meaningful improvement to their monthly budget.

Rate	Level	Context
OCR (current)	2.25%	Down from 5.50% peak
1-year fixed (major banks)	5.4–5.6%	Most competitive in years
2-year fixed	5.1–5.3%	Attractive for certainty
Avg. yield forecast Sep 26	~4.7%	Further improvement expected

 A large portion of fixed-rate mortgages have been rolling over in the past few months — and for most of those borrowers, refixing means paying less. That cashflow improvement flows directly into confidence and spending power, which in turn supports property demand.

The One Thing to Watch

The Middle East conflict that escalated at the end of February has added some uncertainty to the mix. Petrol prices have risen sharply — about 50 cents a litre in March (and counting!) — and if that persists, it could slow the RBNZ's rate-cutting path a little. It's something to keep an eye on.

That said, the RBNZ's direction of travel over the past year has been clear: rates are coming down. A short-term hold doesn't change that picture materially, and most economic commentary still points to further easing over 2026. The tailwind for the property market remains intact.

For anyone thinking about selling: the buyers in your market are borrowing at rates that are meaningfully better than they were a year ago. That translates directly into purchasing power — and that's good news for what you're likely to achieve.

Where Things Are Heading

Zoom out and the direction of travel is positive. Interest rates have been falling steadily from their peak, and a meaningful number of homeowners have been rolling off expensive fixed rates onto much lower ones over the past few months. That frees up cashflow, rebuilds confidence, and brings more buyers to the table.

Affordability is the best it's been in five years. First home buyers are back. Investors who sat on the sidelines through 2023 and 2024 are starting to move again. The loosening of LVR restrictions has opened the door for more buyers who previously couldn't get finance across the line.

The market isn't roaring — but it's moving, and the conditions that drive a sustained recovery are quietly falling into place.

What This Means If You're Thinking of Selling

The buyers in the market right now are motivated and well-researched. They've done their homework on comparable sales, they know what things are worth, and when a property is presented well and priced right, they move quickly.

The key is realistic pricing — not discounting, but pricing to the current market rather than peak 2021 values. Vendors who do that are finding that their properties sell in reasonable timeframes and attract genuine competition. Those who overprice are sitting on the market longer than necessary.

If you've been waiting for the 'right time' to sell — this is a market worth taking seriously. Rates are easing, buyers are active, and the window before the market potentially picks up further is open right now.

Thinking about making a move? Let's have a chat about what your property could achieve in the current market.

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About Nish & Charlotte

We live and work on Auckland’s North Shore, and we’re passionate about helping local homeowners navigate the North Shore property market with confidence. As specialists in North Shore real estate, we combine in-depth market analysis with practical, tailored advice to help you make informed decisions — whether you’re buying, selling, or simply planning ahead.

If you’re thinking about selling in 2026 — or you’d just like clarity on what your property could achieve in today’s market — we’re always happy to provide a confidential, no-obligation property appraisal and talk through your options.

Data sourced from Barfoot & Thompson and REINZ. This report is general commentary only and is not financial or investment advice.