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Property Market – New suburb-level property insights as NZ housing market turns a corner – CoreLogic

Source: CoreLogic
Property values across New Zealand are showing signs of recovery, with more than half of suburbs recording stable or rising prices in the first quarter of 2025.
The latest Mapping the Market update from CoreLogic NZ provides suburb-level insights across 2,661 areas for houses and 1,077 areas for flats/townhouses, offering the most comprehensive view of property values in the country.
CoreLogic NZ Chief Property Economist Kelvin Davidson said the data confirms that while affordability remains a challenge, improving market conditions are supporting a shift in property values.
“New Zealand’s housing market has started to turn, driven largely by lower mortgage rates. Over the past three months, 54% of suburbs saw house values stabilise or increase, with a similar trend for flats or townhouses at 56%,” Mr Davidson said.
“While this recovery is in its early stages, the strongest gains have tended to be concentrated in more affordable areas, where buyers appear to be capitalising on relatively lower property values.”
Houses on the West Coast, particularly some suburbs in Buller and Grey District, saw values increase by 6% or more over the past quarter, reinforcing the role of affordability in driving market activity.
Among the main centres, Dunedin’s Waldronville (3.9%), Hamilton’s Temple View (3.5%), and Christchurch’s Kainga (3.3%) recorded some of the strongest gains for standalone houses.
For flats and townhouses, Glenleith in Dunedin (6.2%) and Grenada North in Wellington (4.8%) led the upturn, while areas such as Deanwell in Hamilton (4.1%) and Auckland North Shore’s Bayview (3.5%) also recorded notable growth.
Mr Davidson said signs of stabilisation in previously weaker markets suggested demand was gradually beginning to return.
“The number of suburbs experiencing price declines has narrowed, indicating the early stages of an upturn. Fewer than 230 suburbs saw house values drop by 2% or more over the past three months, while only 111 suburbs recorded similar declines for flats and townhouses,” he said.
However, he cautioned that recovery remains uneven, with economic conditions, supply levels, and lending constraints continuing to influence local markets.
“Some areas are stabilising or rising, but others remain affected by high listing volumes and economic uncertainty. The resurgence in values suggests improving sentiment, but we expect the pace of recovery to remain measured as affordability constraints and credit conditions limit momentum.”

Enhanced market intelligence with new digital mapping

The Mapping the Market online tool has been significantly expanded, now featuring suburb-level data split by property type. This enhanced dataset allows homebuyers, investors, and policymakers to assess value trends across different housing types using a single, standardised methodology.
The interactive digital map, available at CoreLogic NZ Mapping the Market, provides current median values across every major suburb. With an intuitive interface, it offers a clear visual representation of where buyers can find properties within their budget.
Mr Davidson said the latest insights reaffirm the affordability advantages of some regional markets.
“Lower-priced housing markets are leading the recovery, particularly in West Coast districts such as Buller and Grey, where affordability remains a key driver. Suburbs within major centres, such as Waldronville in Dunedin and Temple View in Hamilton, are also showing signs of renewed demand.”

NZ’s most expensive and affordable suburbs

Auckland’s most expensive suburb remains Herne Bay, with a median house value of $3.15 million, while Oriental Bay tops the list in Wellington ($1.57 million) and Merivale in Christchurch ($1.33 million).
For flats and townhouses, Queenstown continues to dominate, with median values in Queenstown Hill reaching $1.52 million, while Auckland’s Stonefields ($1.37 million) and Campbells Bay ($1.23 million) also rank among the highest.
More affordable housing options remain available in regional areas, with median property values significantly lower in some parts of Buller and Grey Districts, as examples.

A cautious recovery ahead

While more suburbs are showing early signs of a market rebound, Mr Davidson expects the pace of growth to remain gradual due to economic conditions, high listing volumes, and credit constraints.
“The downturn appears to be largely over, but the upturn in 2025 could be subdued,” he said.
“The affordability gains seen in recent years are still in place and while lower interest rates may provide a lift, factors like high listings supply levels and restrained lending conditions to some degree – such as the debt to income ratio limits – could temper the recovery.”
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Economy – Can new public infrastructure pay for itself? – Infrastructure Commission

Source: New Zealand Infrastructure Commission

Research by the New Zealand Infrastructure Commission explores whether new public infrastructure investment can generate revenue to pay back the cost of the investment.
“The social and economic benefits of public infrastructure – our hospitals, schools, roads, water networks and more – are clear. But while all infrastructure needs to be paid for, it’s not always clear how it’s paid for,” Peter Nunns, General Manager – Strategy, says.
How we pay for new infrastructure
“One way to pay for more infrastructure investment is by raising user charges or tax rates. But that can be difficult. A recent public opinion survey from Ipsos shows that while most New Zealanders think we should do more to meet our infrastructure needs, few of us are willing to pay higher charges or taxes to fund more investment.
“Another option is to invest in public infrastructure that pays for itself by bringing in new revenue. Projects that lead to large increases in infrastructure usage or large increases in economic activity generate more revenue from existing user charges, local government rates, or taxes.
“Our new research, Paying it back: An examination of the fiscal returns of public infrastructure investment, takes a closer look at when, where, and how this is possible.
When does new infrastructure pay for itself
“Projects that can be delivered cost-effectively and that benefit many people are more likely to pay for themselves out of new revenue. Prioritising value for money can help boost our ability to invest in more infrastructure.
“However, the bar is very high for public infrastructure projects to fully pay for themselves. Governments only collect a small share of new economic activity or user benefits through taxes, rates, or user charges. As a result, we estimate that transport projects must generate social and economic benefits that are five to nine times higher than the cost of the project to generate enough new tax revenue to pay for themselves,” Nunns says.
“Our research suggests that the payback from public infrastructure investment tends to be higher when infrastructure networks are added to bit by bit as demand grows. In contrast, the costs of a ‘big bang’ approach usually outstrip the returns and must be covered from other tax or rates revenues. This could then take money that could be used for other priorities like hospitals and schools.
A closer look at local councils
“In one case study, we looked at seven large or growing urban councils over a 25-year period. We estimated how much they spent on infrastructure to accommodate population growth – from construction to ongoing maintenance,” Nunns says.
“Some of these councils generate enough new revenue from this infrastructure – through development contributions and added rates revenues on new buildings – to fully recoup the cost. Others spent more on growth infrastructure than they earned in new revenue. We found that councils that grew their networks in line with population growth were much more likely to come out financially ahead after 25 years.
“Not all projects have to pay their way. The point of public infrastructure is to improve community wellbeing, not simply generate revenue. But as the challenges of an ageing population and slowing productivity growth place pressure on our budgets, we’ll need to pay more attention to the fiscal sustainability of new infrastructure investment,” Nunns says.
Background information
  • The report Paying it back: An examination of the fiscal returns of public infrastructure investment includes three case studies to explore how and when infrastructure can generate sufficient revenue to cover its costs.
  • Based on the case studies, the report highlights four key lessons for how to maximise revenues from new investments: project quality matters (projects that are cost-effective to build and which serve more users or beneficiaries are more likely to generate positive fiscal returns); the bar is high for projects to fully pay for themselves; incremental investment tends to have higher returns; and attaching revenue streams to new projects can help.
  • One case study looks at a 25-year period from 2007 to 2031 for seven local councils (Auckland (2012 to 2031), Hamilton, Tauranga, Wellington, Christchurch, Queenstown-Lakes, and Dunedin).
  • Another case study looks at four major transport projects, both road and rail, where published business cases provided sufficient information to calculate fiscal returns to the Crown: Ōtaki to north of Levin (O2NL) motorway (a 24-kilometre, four-lane motorway and shared use path); Pūhoi to Warkworth motorway (an 18.5-kilometre, four lane motorway, the first section of the Ara Tūhono, Pūhoi to Wellsford Road of National Significance); Warkworth to Wellsford motorway (the second proposed leg of the Ara Tūhono, Pūhoi to Wellsford Road of National Significance); and City Rail Link (CRL) (a mostly tunnelled 3.5-kilometre rail link connecting the Britomart Transport Centre to the North Auckland Line).
  • The final case study examines how a hypothetical tool, like a value capture levy to collect revenue from increasing property values might affect the returns from major transport projects. The study tests different scenarios around project cost, characteristics, and population density in the area that the project is serving.
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Legal and Governance Sectors – Janine Stewart: No Success without Succession

Source: Institute of Directors NZ

Tāmaki Makaurau Auckland-based Janine Stewart MInstD started her legal career in property litigation before moving into construction and infrastructure. Today, she is a specialist in construction and infrastructure, property and project disputes, and a partner at Minter Ellison Rudd Watts.  
 
Stewart says the construction industry interacts with many facets of law, including contract, negligence and equity.  
 
“You also see construction and infrastructure projects all around you . . . it’s very tangible and requires quite a lot of critical thinking and a solutions-focused approach where problem solving is at its core,” she says.  
 
It’s also the reason governance appealed to her.  Stewart’s first experience of governance was as part of an advisory panel providing advice to the Ministry of Business and Innovation (MBIE) on construction issues and the Building Act. She says the panel ran in a similar way to a board and broadened her perspective beyond her practice and full-time work. It also aligned with her skill set.  
 
“I really enjoyed that. I could bring what I knew from my practice to the panel – and the panel insights to my practice,” she says.  
 
Stewart currently sits on two boards – Minter Ellison Rudd Watts, and Mercy Ships – an international organisation that brings medical care to low-income countries.  
 
“I traveled to Dallas in place of the chair of Mercy Ships in 2017 (who was unable to attend the international board meeting) to focus on the vision and strategy of its 16 offices – that just sealed it for me,” Stewart says.  
 
Being part of ‘the bigger picture’ and focusing on the vision, purpose and strategy of an organisation – and testing it operationally – keeps her engaged. For Stewart, having had her hand in construction-based board roles also enables her to bring deep knowledge and fresh thinking to an industry she describes as having its own level of complexity.  
 
One of the bigger cases she has worked on in her legal practice was against Mainzeal prior to its liquidation.  
 
“Mainzeal’s demise significantly impacted the shape of my practice because I was very focused on a major piece of litigation against it,” she says of the case.  
 
When Mainzeal went into insolvency and the litigation wound down, this shifted the focus of her business to navigating tensions and disputes in ‘live’ projects.
 
Overall, Stewart says large scale projects in the industry carry greater risk. Construction companies are not typically ‘asset heavy’, instead, “construction company assets tend to be in their goodwill, their people, and/or in their pipeline and projects”.  
 
“You must be cognisant of these specific features of construction companies if you are on these types of boards because you must test the company’s ability to meet obligations on an ongoing basis against this framework,” says Stewart, who has conducted training with contractors and subcontractors on solvency-related issues that derive from late or failed payments.  
 
“So, you do need to focus on cash flow and your ability to meet the solvency test to comply with your ongoing obligations, because you don’t necessarily have that direct and material asset base to draw on when cash flow might be tight.”
 
If directors and boards aren’t comfortable with the financial information provided, Stewart recommends asking questions and/or seeking external expertise.  
 
“You don’t have to be a forensic accountant, it’s having that confidence to call for external expert help when you need it,” Stewart says.
 
For directors across all industries, the Mainzeal case, according to Stewart, highlighted the importance of skill sets around the board table and the need for succession planning.  
 
“I think those points have really come into focus since Mainzeal because the financial state of affairs . . . were dire at the time. Had they reflected on whether they should have gotten expert advice, or [decided whether to] step down, I wonder how that would have impacted their liability.”
 
As a result, today,‘liability’ might reverberate more forcefully in the governance landscape regardless of the type of board or industry.  
 
But directors can guard themselves against risk by expanding their knowledge. Likening the need for continuous self-development to training at the gym or being in a relationship, Stewart says work is required. And the same is true of any board role. “You need to continue to work to improve yourself.”
 
In 2020, Stewart attended the Institute of Directors (IoD) Company Directors’ Course and, more recently, attended the Advanced Directors Course where she says the critical thinking, and self-reflection around your values as a director and what you bring to the board table, appealed.  
 
“I had recently joined [the Minter Ellison Rudd Watts] board and I liked the focus on critical thinking on the course because that’s something I can also bring into my legal practice and around the board table,” says Stewart, who is also looking to expand her governance portfolio.  
 
“[In the course], there was a big focus on climate, behaviours and younger people coming onto boards and making sure they’re heard, and that the board is essentially doing the best job it can.”
 
She says while some might dismiss development programmes, she reinforces the importance of ‘testing yourself’ and for boards to have regular board evaluations. As for identifying when it’s the right time to step down from a role, deep self-reflection and asking yourself some hard questions are necessary.  
 
“There is a risk in people staying too long and holding onto their board roles. There’s also an important aspect of maintaining institutional knowledge, so it’s about striking a balance to ensure you’re bringing your best self to the table.”
 
‘Groupthink’ can also increase a board’s risk, especially where younger or new directors join the board and are shut down or dismissed by established members if they raise concerns or challenge the board.  
 
“Groupthink just continues . . . but you have to think about how you might create a board culture that reduces the risk of that happening, and, when it does, make sure you’re prepared to deal with it because nothing’s perfect.”
 
One thing Stewart would like to see more of at board tables across Aotearoa is “more listening”.  
 
“And take a pause before putting forward your view . . . I think we are sort of wired to speak quickly, and we need to take the time to listen and pause and respond, rather than react.”
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Man charged after indecency incidents on buses, Wellington

Source: New Zealand Police (National News)

A 27-year-old man has been charged following a series of offending which occurred on the Wellington public transport network.

In early March, Police received reports relating to several incidents where a male passenger travelling on the Metlink bus network had acted in a sexually inappropriate manner, specifically directing his unwanted behaviour towards lone female passengers. This behaviour obviously caused them distress and to feel unsafe.

Police promptly launched an investigation and as a result were able to identify, locate and arrest the offender without incident.

Police understand these incidents can be distressing and we hope this arrest provides reassurance to large sector of the community who rely on public transport.

Wellington Police are committed to ensuring all members of the public are safe and feel safe as they move about our community.

Police are ensuring the victims of this offending are being provided support.

The offender has been charged with multiple counts of performing indecent acts and is due to appear in Wellington District Court on 31 March.

ENDS
 

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Fatal crash, Marton

Source: New Zealand Police (National News)

One person has died after a two-vehicle crash on SH1, near Marton, last night.

Emergency services were called to the scene about 9.45pm.

Sadly, one person died at the scene.

Another person sustained minor injuries.

The Serious Crash Unit has examined the scene, and enquiries into the circumstances of the crash are ongoing.

ENDS

Issued by Police Media Centre

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Government unlocks export growth opportunities for New Zealand dairy businesses

Source: New Zealand Government

The Government’s commitment to growing the value of New Zealand’s dairy exports has taken a major step forward with the passing of a key Bill in Parliament, Agriculture Minister Todd McClay announced today.

“The Dairy Industry Restructuring (Export Licences Allocation) Amendment Bill, which passed its third reading today, modernises New Zealand’s dairy export quota system, creating new opportunities for growth and boosting farmgate returns,” Mr McClay says.

“New Zealand’s dairy farmers and processors produce world-class products, but outdated rules have restricted export growth. This law unlocks greater access to lucrative overseas markets and ensures the quota system reflects the diversity of our dairy industry.”

New Zealand currently administers dairy export quotas for the Dominican Republic, the European Union, Japan, the United Kingdom, and the United States.

“The Bill introduces vital changes to better support businesses of all sizes, and it shifts quota allocation from the proportion of milk solids a company collects from farmers to a system based on export performance,” Mr McClay says.

“It also reserves portions of quotas for exporters who are currently ineligible — ensuring fairer access across the industry.

“And importantly, it now includes quota for sheep, goat, and deer milk processors, unlocking new export opportunities and revenue streams.”

Mr McClay says the Bill directly supports the Government’s ambitious goal of doubling the value of New Zealand’s exports in 10 years.

The commencement date for the Bill is 1 May 2025.

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Unlocking data to increase competition and choice

Source: New Zealand Government

Easier data sharing will lead to greater competition and better choice for consumers in key markets such as banking and electricity, thanks to today’s passing of the Customer and Product Data Bill, says Commerce and Consumer Affairs Minister Scott Simpson.
“The days of manually searching the internet for the best electricity plan, or painstakingly going line by line through months of bank statements when applying for a mortgage, could soon be over. Using your own data shouldn’t be that difficult, and it won’t be in the future,” says Mr Simpson.
“This is a monumental step for Kiwi consumers. It sets up the framework to give them greater ownership of their data, and more power and ease when it comes to shopping around for the best deal on utilities and other essential services.
“It will also help grow New Zealand’s economy by breaking down the barriers for innovative technology companies, meaning they can also save time and money and offer new data-driven products and services.
“Progressing this Bill was recommended by the Commerce Commission following its market study of the banking sector. We are on track to have open banking operational by the end of the year – well before the June 2026 target set by the Commission – with regulations specific to the sector to be confirmed in the coming weeks.
“The next cab off the rank will be the electricity sector, to enable open electricity, and the legislation opens up possibilities in other sectors in future.
“This legislation is very timely, with the media reporting just last week on exactly why a consumer data regime was needed. For instance, a Commerce Commission study found that nearly a third of mobile and broadband users have not switched providers because it was simply too hard.
“Meanwhile in the electricity sector, comparison website Powerswitch says that because not all retailers are playing ball and sharing information, it is difficult to support people wanting to switch.
“The data has always been there – but businesses holding it have had little incentive to invest in better data-sharing technology and agreements. We’re putting the power back into the hands of those who own the data: consumers.
“I am excited to see the competition, choice, and innovation that this will unleash.”

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Update: Arrest in aggravated burglary investigation, Miramar

Source: New Zealand Police (National News)

Attributable to Detective Inspector Nick Pritchard:

Police have arrested and charged a man following extensive enquiries into an aggravated burglary in Miramar.

At around 2am on Monday 17 March, Police were called to a Darlington Road address, where the occupants located an intruder inside their home. After an alleged altercation with the occupants of the house, the alleged offender fled.

One person in the house received minor injuries and the other three were uninjured.

Today, Wednesday 26 March, Police arrested and charged a 28-year-old man.

The man is due to appear in Wellington District Court on Thursday 27 March, charged with aggravated burglary and aggravated injury.

Wellington Police continue to investigate the death of 63-year-old Abdul Nabizadah and are working to establish if there is a link between the aggravated burglary and Mr Nabizadah’s death.

We are grateful for the assistance so far from the public and continue to appeal for information to assist in our enquiries.

At 12.28am, a man was seen walking down Camperdown Road from Totara Street and turned right in to Darlington Road from Camperdown Road. The man was wearing a light-coloured top and dark pants.

We know Mr Nabizadah arrived in Totara Street in his silver-coloured Toyota Aqua, registration NQE681, at 12.25am, so this man may well have seen Mr Nabizadah and or his vehicle. We urge this person, or anyone who may know them, to come forward as soon as possible.

At 1.30am, a man in fitness clothing or activewear was seen running south on Darlington Road, before crossing the Camperdown Road intersection. He was wearing a blue shirt, and we also need to hear from him.

We understand these incidents are upsetting and concerning for the community and the investigation team are working tirelessly to determine the circumstances around Mr Nabizadah’s death and to bring closure for his family.

If you have any information that could help the investigation teams, please update us at 105 online now or call 105.

Please use the reference number 250317/6324, or reference Operation Celtic.

Information can also be provided anonymously via Crime Stoppers on 0800 555 111.

ENDS

Issued by Police Media Centre

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Legislation supports continued safe operation of clubs and ranges

Source: New Zealand Government

Legislation passed today will support the continued safe operation of shooting clubs and shooting ranges, Associate Justice Minister Nicole McKee says. 

“This is an important step towards modernising our firearms laws and ensuring shooting clubs and ranges are fairly regulated in a manner that supports public safety. 

“The Arms (Shooting Clubs, Shooting Ranges, and Other Matters) Amendment Act 2025 was developed as part of the Government’s four phased approach to firearms reform. It provides regulatory relief to the operators of shooting clubs and ranges; while making sure the necessary tools remain in place to ensure public safety,” Mrs McKee says.

The Act introduces several key changes to Part 6 of the Arms Act which include:

  • A new simpler enrolment system for non-pistol shooting clubs and ranges;
  • Decreased barriers to operating temporary non-pistol ranges;
  • Clarification on the timing of inspections; and
  • A range of minor changes to reduce compliance burdens.

“The changes made to the Act simplify the regulatory requirements on shooting clubs and ranges, while maintaining public safety requirements. This will provide relief to club and range operators, who have struggled to comply with the unnecessary extra regulatory burden.”

The Act was developed following consultation with members of the clubs and ranges community, firearms safety experts, and community stakeholders, as well as valuable input from the wider public through the Select Committee process. 

Updates to the Arms Regulations 1992 to reflect the changes made in the Act are expected to come into effect once the Bill comes into force in three months’ time. 

“We have listened to the concerns of New Zealanders and worked to create a law that prioritises safety while ensuring responsible licenced firearms owners are treated fairly.

“This Act forms the second phase of the Government’s four phase approach to firearms reform, which will culminate in a complete rewrite of the Arms Act 1983,” Mrs McKee says.

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Employment – IPL fuel testers to strike over “unfair” omission from bonus scheme following failed mediation

Source: Workers First Union

Workers First Union members who work for Independent Petroleum Laboratory Limited (IPL) are set to strike for six days at the end of the month following an unsuccessful mediation session with the company over the omission of union members from a lucrative bonus scheme.
Laboratory technicians who test fuels, biofuels and other industrial products for supply to airports and others in New Zealand are excluded from a bonus pay scheme that the company will only provide to non-union members, which illegally disadvantages Workers First members, according to Justin Wallace, Workers First Organiser.
“This kind of situation is unfortunately common in the oil and gas industry,” said Mr Wallace. “Union members have had enough of the unfair disadvantage and voted to strike after many attempts to negotiate in good faith with the company.”
Mr Wallace said the strike action could have significant implications, particularly for fuel and jet fuel supplies in New Zealand given IPL’s role as a key testing facility in the supply chain to major petrol stations and airports. Delays in laboratory testing at IPL and on-site at airports could slow the certification and release of these fuels, potentially leading to shortages or logistical challenges.
The strike action is set to take place from March 31st and will last for six days between 12:01AM – 11:59PM on 31 March and 2-6 April. Channel Infrastructure, the owner of IPL, manages a critical 170-kilometre pipeline delivering diesel, petrol, and jet fuel to the Auckland and Northland markets, which constitutes 40% of New Zealand’s fuel demand.
“Non-union colleagues are supporting our fight for fairness in the workplace – there’s no reason that workers should be presented with a false dichotomy between participating in a pay incentive scheme or negotiating pay increases collectively through regular bargaining,” said Mr Wallace.
“These are highly experienced senior laboratory staff who are sick of being disadvantaged in the workplace and having their legitimate concerns dismissed by IPL.”
“Only a very small number of workers are qualified to perform these testing duties, and industrial action is their last resort after exhausting all other options.”