Auckland Property Values Fall Again...But Waitakere Holds Up Better Than Most

The latest property figures are in, and the housing market remains relatively subdued, both here in Auckland and across the country.

Cotality’s September 2026 Home Value Index shows New Zealand property values fell a further 0.3% during September, making it the sixth month in a row that values have declined.

On an annual basis, national property values are now 1.3% lower than this time last year, while the median property value has eased to $797,078. That puts the national median below the previous low point reached in June 2023 and shows that buyers continue to have the upper hand in many parts of the market.

What’s happening in Auckland?

Auckland followed the national trend but recorded a slightly larger decline, with property values falling 0.5% during September.

However, when we look more closely at the different parts of the city, there are some noticeable variations — and Waitakere continues to hold up relatively well.

Here’s how September looked across Auckland:

Papakura — ↓ 0.1%
Rodney — ↓ 0.1%
Franklin — ↓ 0.2%
Waitakere — ↓ 0.2%
Manukau — ↓ 0.5%
Auckland City — ↓ 0.6%
North Shore — ↓ 0.7%

For West Auckland homeowners, Waitakere’s result is worth noting. While values are still edging lower, a 0.2% monthly decline compared with Auckland’s overall 0.5% fall shows our local market was comparatively resilient during September.

What does this mean for buyers?

Buyers continue to have an advantage in the current market.

There is plenty of choice available, which means purchasers generally have more time to consider properties, do their homework and negotiate rather than feeling pressured to make an immediate decision.

Affordability has also improved, creating opportunities for buyers who may have previously struggled to enter the market — particularly first-home buyers.

Of course, that doesn’t mean every property will be easy to secure. Well-presented homes in sought-after locations can still attract strong interest. But overall, buyers are operating in a market where they can afford to be more selective.

What does it mean for sellers?

For sellers, the September figures reinforce the importance of getting the fundamentals right.

When buyers have plenty of properties to choose from, pricing, presentation and marketing become even more important.

Launching at the right price and presenting your home at its best from day one can help create competition and prevent your property from being overlooked in favour of other listings.

It’s also a reminder that looking at the headline “Auckland market” figure doesn’t always tell the whole story.

September’s results ranged from a decline of just 0.1% in Papakura and Rodney to 0.7%. Understanding what’s happening in your particular suburb — and at your property’s price point — is much more useful than relying on Auckland-wide averages alone.

West Auckland continues to show resilience

For us, one of the most interesting numbers this month is Waitakere’s 0.2% decline.

It puts Waitakere alongside Franklin and behind only Papakura and Rodney in terms of holding value during September. More importantly, the decline was less than half the 0.5% fall recorded across Auckland overall.

That doesn’t mean the market has suddenly turned. Buyers remain cautious, and conditions are still competitive for sellers.

But it does show why local market knowledge matters.

If you’re considering selling, buying or simply want to know where your property sits in the current market, talk to us today. We can help you understand what’s happening locally and what the latest numbers could mean for your next move.

Source: Cotality NZ Home Value Index, September 2026.