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Does the Election Really Affect the NZ Property Market?
Is the NZ election affecting house prices and property decisions? Here’s what recent data means for homebuyers and sellers.
Nurain Nadzirah
02 October 2026
With New Zealand’s election approaching, it’s easy to wonder whether the property market might slow down until the result is known.
Some homebuyers and sellers may choose to wait. But recent data suggests the election isn’t having a major impact on the NZ property market overall.
Most homebuyers and sellers aren’t waiting on the election
Trade Me Property surveyed more than 2,000 active buyers and homeowners to find out how much the upcoming election is influencing their property decisions.
The result? 22% of homebuyers and 20% of sellers said the election was a primary influence.
Only 6% said they were strongly affected, with property investors making up most of this group.
For most people, the bigger considerations are much closer to home—things like mortgage rates, affordability, location and finding the right property.
And sellers are still planning to come to market. Trade Me found that 25% of prospective vendors planned to list in October, while another 13% intended to list before the end of September.
Elections don’t necessarily mean falling house prices
Looking at previous NZ elections gives us some useful context.
Bayleys analysed property activity around several election cycles and found no consistent relationship between elections and house prices.
There have been elections where sales activity softened, particularly when housing policy was a major political issue.
But that doesn’t necessarily mean the election itself caused prices to change.
Interest rates, access to lending, employment and the wider economy can all be moving at the same time—sometimes with a much bigger effect on the property market.
The NZ property market is bigger than the election
National property figures can make the market look simpler than it really is.
Trade Me’s August data put the national average asking price at $828,250, up 0.4% from a year earlier.
But regional markets are telling very different stories.
| Region | Change |
|---|---|
| Southland | +17.4% |
| Otago | +9.6% |
| Northland | -3.7% |
| Wellington | -3.7% |
| Hawke's Bay | -5.9% |
| Taranaki | -8.1% |
The national figure only tells part of the story. Where you’re buying or selling can make a much bigger difference to what’s happening in your local market.
So, should you wait until after the election?
The current evidence suggests the election is influencing some property decisions, but it isn’t causing most buyers and sellers to pause their plans.
And history doesn’t show a reliable pattern of house prices suddenly changing because an election has taken place.
For homebuyers and sellers, the more useful questions are likely to be:
- Does the borrowing work for you?
- What is happening with mortgage rates?
- What are properties selling for in your area?
- Does the timing fit your plans?
The election may be part of the bigger picture, but it’s only one piece of it.
When it comes to a property decision, understanding your own numbers and circumstances may tell you more than waiting for election day.
Thinking about buying or selling before the election?
Rather than trying to time the market, let’s look at what the current numbers mean for you.
This article is for informational purposes only. It does not consider your personal financial situation or objectives. Please consult with Tella mortgage and financial experts before making any decisions regarding your mortgage or debt strategy.
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