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New Zealand Sotheby’s International Realty managing director Mark Harris says the Government’s latest Budget is best viewed through a broader economic lens rather than as a set of direct housing market interventions.

The Reserve Bank of New Zealand has left the Official Cash Rate unchanged at 2.25%, and from a housing perspective that feels like the right outcome for the market right now. The property market is still relatively soft and activity remains below more normal levels, so we still need more buyers back in the market. Holding rates steady should help support confidence and avoid placing additional pressure on households at a time when buyers are already becoming more selective.

BWA Insolvency’s Quarterly Market Report shows 772 insolvencies were recorded in Q1 2026, down 17 per cent from 936 cases in Q4 2025. While the quarterly decline suggests business stress may have peaked late last year, insolvencies remain 13.9 per cent higher than the same quarter in 2025, reinforcing that many firms are still operating under sustained pressure.

The market is stabilising, but momentum remains patchy New Zealand’s housing market has spent much of the past 12 to 18 months finding its feet.

There’s a quiet frustration sitting across the real estate industry right now. Agents are posting more than ever. Videos. Listings. Just solds. Market updates. Personal content. Reels. Stories. Everything the industry has been told to do.

Back in March, I got out from behind the screen, jumped in the car, and spent time with property management business owners, leaders, and teams across New Zealand’s North Island. I started in Wellington, then made my way through Palmerston North, Whanganui, Napier, Hawke’s Bay, Taupō, Tauranga, Hamilton, and up into Auckland. Different offices. Different markets. Different personalities. But after all those conversations, one thing stood out pretty quickly.

As ANZAC Day approaches, I’ve noticed something. Our national conversation feels louder than usual. More opinion. More division. More certainty from people who, if we’re honest, don’t carry the full weight of what they’re speaking about.

In many offices, the conversation around growth starts with the same question. How do we get more listings? But listings are rarely the first battle. Appraisals are.

Every market creates two types of agents. Those who pause and hope conditions improve, and those who use the moment to get ahead. The gap between the two groups is rarely talent. It is usually behaviour. When enquiry softens, listings tighten or headlines become uncertain, many agents slip into holding patterns. They tell themselves they will ramp things up when spring arrives, when rates change, when stock returns, when buyers feel more confident. But the strongest operators

The decision by the Reserve Bank of New Zealand to leave the Official Cash Rate unchanged at 2.25% is expected to support a steady and stable trajectory for New Zealand’s housing market.

The Reserve Bank of New Zealand has held the Official Cash Rate at 2.25 per cent. Inflation currently sits at 3.1 per cent, at the top of the 1 to 3 per cent target band. With the outbreak of conflict in the Middle East pushing global oil prices higher, Ray WhiteGroup economist Atom Go Tian said inflation was expected to rise further above the band in the near term before easing as the shock passes.

A new regional rental affordability report released by Property Brokers and property research firm The Property Knowledge shows signs of improving rental affordability across New Zealand but warns that significant regional disparities remain.