Sabine Davison is an award-winning real estate professional with over two decades of experience across New Zealand. As General Manager of NZSIR in the central North Island, she leads strategy and growth while driving excellence in sales, coaching, and auctioneering.
Premium real estate is often reduced to a price bracket. In my experience, it is better understood as a standard. It is the combination of location, quality, and presentation that sets a benchmark for the wider market. In Hawke’s Bay, that benchmark is rising: after two unusually choppy years, the premium market is again rewarding quality and certainty. The national picture supports this shift, with the Real Estate Institute of New Zealand’s July figures showing a modest lift in sales year on year, tighter new listings, and a small rise in the median price to $767,250.
Hawke’s Bay’s July median price rose 3.0 per cent year-on-year to $680,000, with first-home buyers and downsizers the most active and investors still selective. Sales activity is building too with regional sales counts up 13.5 per cent on July last year, the highest July sales count since 2020. The median days to sell sat at 45, above the 10-year July average of 39, a reminder that presentation and pricing still matter.
Out-of-region interest continues from Auckland and Wellington movers and returning expats. Today’s buyers are savvy and on the whole well-researched in the premium segment of the market. Relief in mortgage rates has improved confidence and encouraged shorter refix terms with the potential of further small rate drops to come. Credit is available for well-qualified borrowers, and that is flowing through to stronger attendance on new, well-presented listings. Supply remains measured, which helps standout properties hold attention as enquiry lifts into spring. Nationally, economist Tony Alexander notes “slight signs of improvement” with buyers still taking their time and a “touch of FOMO” returning – a fair summary of how our open home attendance is faring at the mid to upper end. Real estate is cyclical and we have been, arguably, at “bottom of the market” for some time now. The traditional spring uplift may very well signal a sustained positive turn in the cycle.
Method of sale still matters. It always does, but in a tighter market the outcome is more pronounced. For unique, popular or tightly held addresses, auction or tender can surface the best outcome by creating time-bound focus and clear price discovery. For targeted real estate such as premium apartments, a firm asking price with disciplined negotiation can be equally effective. The craft is to match method of sale to the property and to the buyer behaviour we are observing right now. An experienced agent with deep local knowledge is essential to provide advice and strategy to lead to a successful sales result.
On the supply side, new listings remain constrained versus last winter, which is keeping choice in check and sharpening focus on homes that are genuinely “sale-ready”. Across New Zealand, July listings fell 4.2 per cent year-on-year and days-to-sell eased a little – both signals that preparation and pricing alignment are doing the heavy lifting where results are strongest.
Election cycles also matter for planning. 2026 is an election year, and history suggests a familiar pattern: a positive few months in the lead-up, followed by a pause as we near polling day (likely in September/October 2026), and then release of pent-up demand once the result is known. Looking across the past nine elections, Kiwis bought about 12 per cent fewer properties in the six-week election lead-up compared with the period immediately after, with sales typically lifting post-election regardless of who forms the government. Prices, on average, are far less sensitive than volumes. The takeaway for vendors: either lean into a spring or summer campaign, or plan to launch decisively after the vote.
In short: Hawke’s Bay is steady, not sleepy. For sellers, precision in preparation and pricing is the advantage. For buyers, readiness and clarity will secure the right home when it appears. If you’re aiming to transact before the pre-election pause next year, spring and early summer through to 2026 look well-suited to well-priced, well-prepared homes – and that’s where a premium Sotheby’s approach adds real value.
