Auckland hits $1m median as 2026 market reawakens

Kiwi mortgage advisers are heading into 2026 with a more upbeat Auckland housing market, as both prices and sales volumes jump from last year’s levels. 

Barfoot & Thompson’s January figures show the city’s median sale price has climbed back to $1 million for the first time in 13 months, alongside the busiest January for sales in five years.

“It is one of the better starts to the trading year in the past decade,” said Peter Thompson, managing director of Barfoot and Thompson. 

The shift comes as most New Zealand professionals expect modest, not sharp, price gains this year, with more stock on the market and pre‑approved but cautious buyers, and rising new‑build consents. 

Sales volumes surge in a traditionally quiet month

Thompson said the 824 sales recorded in January were exceptional for what is usually one of the agency’s slower months of the year.

“This January’s sales number have been exceeded only twice in a January in the last decade, the last time being 2021 when we went on to experience house peak prices and activity,” he said.

Price growth has also re‑accelerated. 

“It is 13 months since we last had a median sales price of $1 million and this month’s median price is 4.8% higher than the median sales price for the 2025 year and 5.3% higher than in January last year,” Thompson said.

“The average sales price in January was $1,169,773, nearly $36,000 higher than the average sales price over the previous three months and more than $116,000 higher than in January last year.”

Rate cuts and confidence support borrower activity

Thompson said January’s activity was boosted by lower mortgage interest rates at the start of the year and by economists’ growing confidence that the economy is improving.

Listing activity is broadly normal, with 1,375 properties listed in January and total stock edging up to 5,475 at month‑end, offering buyers more choice without creating oversupply.

Lifestyle and rural markets add to momentum

Thompson said the lifestyle and rural markets were also lifted by a revival in vendor interest, with sales topping $63 million – up 48% on January last year and

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See the Barfoot & Thompson Housing Market Update here.

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