North Shore Property Market Update: September 2026
September looked soft. Sales on the North Shore were down, and in the Bays the monthly median was down 15.3% on a year ago. But one month is a tree. Zoom out to nine months against nine months and you see the forest. That is the story this month, and it matters most right now, a week before the 28 October OCR decision, and two weeks out from the general election.
Stats at a glance: September 2026
Mairangi Bay & Surrounds | North Shore City | Auckland Region | New Zealand | |
Median price | $1,440,000 | $1,165,000 | $950,000 | $755,000 |
Change vs last month | +5.1% | +0.5% | -0.5% | +0.7% |
Change vs Sep 2025 | -15.3% | -1.2% | -2.6% | -2.3% |
Median days to sell | 42 | 53 | 47 | 46 |
Days to sell vs last month | -10 days | -5 days | - | -6 days |
Days to sell vs Sep 2025 | +9 days | +15 days | +4 days | +3 days |
Sales | 28 | 262 | 1,664 | 5,752 |
Sales vs last month | -15.2% | -12.4% | -5.5% | +2.3% |
Sales vs Sep 2025 | -9.7% | -26.6% | -19.0% | -11.6% |
House Price Index vs Sep 2025 | - | - | -3.2% | -1.5% |
A dash means REINZ does not publish that measure at that level. Nothing is estimated. Mairangi Bay & Surrounds and North Shore City from REINZ Market Insights; Auckland and New Zealand from the REINZ Monthly Property Report, September 2026.
Auckland in September
Fewer sales, not collapsing prices. Auckland's September sales count was its lowest since 2021, but the median only slipped 2.6%.
Stock is building. New Zealand inventory is up 10.7% year on year, and Auckland has now had 32 straight months of growth.
Spring has been slow to start. REINZ says the usual lift "was yet to arrive".
Where Barfoot & Thompson's own numbers sit alongside REINZ's: Barfoot sold 768 Auckland homes in September (down 25.6% on a year ago), at a median of $940,000 and an average of $1,074,865. New listings were 1,769 and month-end stock was 6,203. Same story, same direction.
North Shore City holds its ground on price
Territorial authority | Median price | vs Sep 2025 | Sales | Sales vs Sep 2025 |
Auckland City | $1,140,000 | +0.4% | 460 | -12.0% |
North Shore City | $1,165,000 | -1.2% | 262 | -26.6% |
Rodney | $1,070,000 | -2.7% | 156 | -18.3% |
Waitakere City | $850,000 | 0.0% | 240 | -23.8% |
Manukau City | $870,000 | -4.4% | 401 | -18.5% |
Franklin | $798,000 | -5.6% | 90 | -16.7% |
Papakura | $763,000 | +1.7% | 55 | -20.3% |
Auckland Region | $950,000 | -2.6% | 1,664 | -19.0% |
Source: REINZ Monthly Property Report, September 2026. The North Shore City median is almost flat on last year. The fall is in the number of sales.
Mairangi Bay & Surrounds in September
28 sales at a median of $1,440,000, up 5.1% on August.
Our sales records list 33 September sales after classification. 94% were standalone houses, and the typical home had 4 bedrooms.
Only 4 sold for $2M or more. Top sale: 194 Beach Road, Campbells Bay, $2,580,000.
6 of 28 sales with a recorded selling time took more than 90 days.
Auction or private treaty? 23 of 33 sold by negotiation.
School season is a real driver. Rangitoto College is right here in Mairangi Bay. Families aiming for next year's enrolment need to be settled, and able to show residency, well before Term 4 is over. That pulls some buyers forward through spring.
Zoom out: nine months vs nine months
Month to month, the Bays median swung from +10.4% (June) to -0.7% (July), -19.4% (August) and -15.3% (September). That is noise, caused by a handful of big sales either landing in a month or not.
Nine months against nine months, the median is down just 2.9%. Not 15%.
And the dip is in one place only.
Under $2M: 233 sales vs 208 (+12%). The median did not move ($1.425M vs $1.423M).
$2M and over: 45 sales vs 71 (-37%).
The core market is busier and steady. The soft patch is fewer top-end sales.
Rates, war, and the election
Three things are on buyers' minds. All three are about timing, not about whether people want to live here.
Interest rates. The OCR was raised 25bp to 2.75% on 2 September, the second rise in two months. Banks passed it through to floating rates in full.
Fuel and inflation. The Middle East conflict pushed fuel up. June-quarter inflation was 4.1%. That has kept the Reserve Bank cautious.
The 7 November general election. REINZ members report some buyers and vendors waiting until it is done. That is true whichever way the result goes.
Fixed term | Lowest advertised rate, Sept 2026 |
6 months | 4.75% |
1 year | 4.95% |
2 years | 5.39% |
3 years | 5.39% |
5 years | 5.49% |
Source: Opes Partners, lowest advertised rates, September 2026. Check current rates with your lender.
Dates to watch: 22 October (inflation figures), 28 October (OCR decision), 7 November (election).
More on how rates move buyers: What makes buyers pay more.
The rolling picture: three years of North Shore sales
Nine-month sales are 2,754, against 2,819 last year (-2.3%). That is still about 10% above 2024's 2,506. The average sale price is flat at $1.35M for all three years.
It depends which street you're on
Suburb | Sales | Median | Median days to sell |
Murrays Bay | 24 | $1,580,000 | 42 |
Campbells Bay | 17 | $1,475,000 | 56 |
Rothesay Bay | 13 | $1,421,000 | 30 |
Mairangi Bay | 36 | $1,382,500 | 42 |
Windsor Park | 7 | $1,325,000 | 67 |
1 July to 30 September 2026, sales records after classification. Windsor Park rests on 7 sales, so treat it as indicative only.
Recent sales across the Bays
Address | Suburb | Price | Sold | Method |
23D Channel View Road | Campbells Bay | $1,918,000 | 17 Oct | Private |
6 The Esplanade | Campbells Bay | $2,700,000 | 15 Oct | Auction |
29B Braemar Road | Rothesay Bay | $1,330,000 | 9 Oct | Private |
92 Penguin Drive | Murrays Bay | $2,565,000 | 8 Oct | Private |
1/34 Gulf View Road | Murrays Bay | $1,304,000 | 8 Oct | Auction |
67A Park Rise | Campbells Bay | $1,850,000 | 6 Oct | Private |
6/8 Park Rise | Campbells Bay | $1,448,000 | 5 Oct | Private |
1/37 Newhaven Terrace | Mairangi Bay | $1,812,000 | 1 Oct | Auction |
10 Clematis Avenue | Murrays Bay | $2,180,000 | 30 Sep | Private |
3/3 Galaxy Drive | Mairangi Bay | $1,980,000 | 30 Sep | Auction |
Lot 2/35 Matipo Road | Mairangi Bay | $1,125,000 | 29 Sep | Private |
492 Beach Road | Murrays Bay | $1,250,000 | 24 Sep | Auction |
Sales from 1 to 17 October are shown here only. They are not in the September figures above. Windsor Park had no sales in this list; its highest sale in the last six months was $1,900,000 at 43 Zara Court, 27 Jul 2026.
What this means for you
If you're selling. Price to where buyers actually are. Under $2M the market is busy and prices have held. Above $2M, fewer buyers are active, so presentation and pricing matter more. Spring is your window, before the election and the summer break.
If you're buying. More choice and more time than last year. Stock is up and selling times are longer. If you have a school-age family and want in-zone enrolment next year, give yourself time to settle before Term 4.
If you're staying put. One soft month is not a trend. Over nine months the Bays median is down 2.9%, and sales across the North Shore are still well above 2024.
Want to know what your home would sell for in this market? Get a free appraisal.
Before you go
I'm Nish, a residential salesperson here on Auckland's North Shore, licensed as a Branch Manager under REAA 2008. I track the market street by street, not just suburb by suburb. That matters most when one month's headline says one thing and nine months says another.
Wondering what your home is worth right now? Get a free appraisal.
The tl;dr version
How is the North Shore property market performing in September 2026?
Sales were down 26.6% on a year ago to 262, but the North Shore City median was almost flat at $1,165,000 (-1.2%). Over nine months, sales are down 2.3% and still about 10% above 2024.
What happened to Mairangi Bay & Surrounds prices?
The September median was $1,440,000, down 15.3% on a year ago. Over nine months the median is down 2.9% ($1.563M to $1.517M).
Why did the monthly figure fall so much?
Fewer sales above $2M. Sales under $2M rose 12% over nine months and their median did not move.
What is the OCR?
2.75% after the 2 September rise. The next decision is on 28 October.
Will the election affect the property market?
Some buyers and vendors are waiting until after 7 November. That is about timing, and applies whichever way it goes.
Comments