A flat market, but stabilising

March was the month where the REINZ data started telling a slightly different story. Sales were still down — Westpac's REINZ-adjusted read had volumes off 4.4% month-on-month and effectively flat year-on-year — but the REINZ House Price Index lifted 0.1% month-on-month and 0.2% year-on-year. Small numbers, but the direction of travel mattered.

The REINZ-linked headline numbers

• Sales (Westpac-adjusted): down 4.4% month-on-month, -0.1% year-on-year
• REINZ HPI: +0.1% month-on-month, +0.2% year-on-year
• Median days to sell: 46 days

What it meant on the Shore

Stabilisation rather than recovery. Days to sell at 46 was an improvement on January's 54 — properties were moving more decisively, but only when correctly priced and presented. Stock remained the buyer's friend, and discretion the seller's friend.

A 24-month perspective

Looking across the longer two-year window (March 2024 – March 2026), Opes Partners data identifies Albany Heights as the fastest-growing suburb on the North Shore, and Narrow Neck as the slowest. Useful context: even in a soft market, suburb-level performance varies wildly.

What I'd say to a seller right now

If your property is priced correctly for current conditions and presents well, you are competitive. The market is no longer in free-fall, and the buyers transacting are doing so with intent. The mistake to avoid is anchoring to a peak-market valuation that no longer exists.

What I'd say to a buyer

The window of clear buyer leverage may not stay open forever. Days-to-sell improving is the first signal that competition will return. Patient, decisive buyers — not aggressive ones — are doing best.

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