REINZ September 2026 Market Report: Hawke’s Bay

The Hawke's Bay property market remained subdued in September 2026, with sales activity easing and prices declining slightly compared with a year ago. First-home buyers continued to be the

most active group in the market, while uncertainty ahead of the general election and the prospect of higher interest rates tempered buyer confidence. Despite the softer conditions, median prices lifted from August and local agents reported a promising pipeline of activity heading into 2027.

Key Highlights

Median Price: $650,000 (↓ 2.3% year-on-year | ↑ 4.4% month-on-month)

Sales Count: 158 sales (↓ 7.1% year-on-year | ↓ 6.0% month-on-month)

Days to Sell: 43 days - unchanged from September 2025 and 4 days longer than the 10-year September average.

Market Insights

"The median price for Hawke's Bay decreased by 2.3% year-on-year to $650,000. First-home buyers were the most active buyer group in September, while activity among other buyer groups was more limited. Market conditions remained subdued, with uncertainty ahead of the general election and the possibility of higher interest rates shaping sentiment. Local salespeople expect the market to remain fairly quiet in the near term, although the pipeline appears promising, with activity potentially lifting early next year." - Lizzy Ryley, REINZ Chief Executive 

District Trends

District	Median Price	Change vs Aug 26	Change vs Sep 25	Sales	Change vs Aug 26	Change vs Sep 25
Central Hawke's Bay	$537,195	↓ 7.4%	↑ 8.5%	13	↓ 23.5%	↓ 38.1%
Hastings District	$645,000	↑ 4.3%	↓ 5.1%	77	↓ 9.4%	↑ 28.3%
Napier City	$695,000	↑ 6.9%	↑ 1.5%	65	↑ 3.2%	↓ 26.1%
Wairoa District	–	–	–	3	0.0%	↑ 200.0%
Hawke's Bay Region	$650,000	↑ 4.4%	↓ 2.3%	158	↓ 6.0%	↓ 7.1%

Source: REINZ September 2026 Property Report.

What It Means for Buyers and Sellers

Buyers: First-home buyers continue to have opportunities in a market that remains favourable to purchasers. With property values sitting below last year's levels and stock levels slightly higher, buyers have more time to make informed decisions.

Sellers: Realistic pricing remains critical. Vendor expectations are generally aligned with market conditions, but buyers are taking a measured approach and are less willing to rush decisions. Well-presented and appropriately priced homes are likely to attract the strongest interest.

Investors: Investor activity remains relatively limited, with many taking a cautious approach amid economic uncertainty and interest rate concerns. However, improving affordability and stable rental demand may create opportunities for long-term investors willing to look beyond current market sentiment.

Conclusion

The Hawke's Bay property market continues to move at a measured pace. While sales volumes remain below last year's levels and prices have softened slightly, the market appears relatively stable. First-home buyers remain active, stock levels are manageable, and REINZ members report a promising pipeline of activity that could support a stronger market in early 2027.

For buyers, sellers, and investors, understanding local market conditions remains key. With conditions varying across districts and buyer groups, having the right advice can make all the difference.

Stay informed and make the most of the opportunities available in the Hawke's Bay property market.