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New Zealand Property Values Edged Lower in June, Says Cotality

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New Zealand property values slid in June as Middle East-related tensions spilled over into economic uncertainty, weakening sentiment, Cotality said Thursday.

According to Cotality NZ's latest Home Value Index, the national median value stood at NZ$806,512 in June, down 0.2% from the prior month.

Main centers Auckland and Wellington continued to slow, with values declining 0.5% and 0.4%, respectively. In contrast, values in Hamilton rose 0.5%.

The US-Iran peace deal has improved the economic outlook, but the delayed effects of previous uncertainty were seen in June's property value figures, it said.

The possibility of an increase in official cash rate (OCR) next week has reduced due to the peace deal and falling fuel prices.

However, if OCR holds steady in July, "an increase or two still looks likely at some stage in 2026 - which was the expectation even before the Iran conflict began," the firm added.

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