Auckland Property Update
The Auckland property market is closing out the year with renewed momentum. From lending incentives and interest-rate movement to important rental law changes and evolving regulations, December has delivered meaningful updates for property owners, tenants, and investors alike.
At Wendell Property, we work closely with our community across Auckland and beyond to stay ahead of these shifts. Below is a snapshot of what’s changing now — and what to expect as we move into 2026.
Interest Rates, OCR & Cashback Offers – A Key Moment for Property Owners
December has delivered one of the strongest lending environments seen in recent years. Several major New Zealand banks have increased cashback offers to 1.5%, an unusually high incentive for new lending or refinancing.
To put this into context:
- $500,000 lending = $7,500 cashback
- $1,000,000 lending = $15,000 cashback
- $1,500,000 lending = $22,500 cashback
With competitive mortgage rates already available and further OCR movement anticipated, this represents a rare window for property owners reviewing their lending or considering refinancing.
Economist Tony Alexander has recently shared insights on what a lower OCR could mean for mortgages and house prices heading into 2026, particularly as confidence begins to return to the market.
Meth Regulations – Clearer Standards Emerging for Rentals
Changes to meth contamination rules for residential rental properties are progressing, with proposed contamination thresholds of 15 µg and the limit of ‘uninhabitable’ set at 30 µg. These updates aim to bring greater clarity and consistency across the rental sector, reducing unnecessary (and costly) remediation while still protecting health and safety. For example if a bedroom tested above 15 µg only that bedroom would need to be cleaned. What isn’t clarified is if any level of contamination below 15 µg is still in breach of ‘reasonably clean and tidy’ and this has been raised as an area requiring further clarity. Read more here.
New Pet Laws for Rentals – Effective 1 December
One of the most significant updates for rentals this year is the introduction of new pet legislation, effective 1 December. The updated rules are designed to make it easier for tenants to request pets while still allowing property owners to manage risk through:
- Reasonable conditions
- Pet bonds
- Appropriate insurance considerations
We’ve published a comprehensive guide covering what’s changing and how it works in practice. Learn more here.
Foreign Buyer Rules – Targeted Changes Coming in 2026
There has been a lot of commentary around foreign buyers and the New Zealand housing market. Rather than a full reopening, what has actually been legislated is a very limited change to the Overseas Investment Act.
From 2026, a narrow group of overseas buyers — primarily holders of specific investor visas — may be able to purchase or build high-value residential property (generally $5 million and above), subject to Overseas Investment Office approval.
This change does not reopen the market to foreign buyers broadly. Instead, it is expected to impact only a small segment of the market, with flow-on effects most likely felt in:
- Queenstown luxury and lifestyle properties
- Premium and trophy-home segments in Auckland
For the wider Auckland residential and rental market, the impact is expected to be minimal, with demand continuing to be driven primarily by local buyers, migrants, and long-term investors.
Looking Ahead to 2026
With lending conditions shifting, rental legislation evolving, and selective policy changes at the upper end of the market, the end of the year sets the stage for an active and more confident 2026.
At Wendell Property, we specialise in Auckland property management, combining local expertise with clear communication, strong tenant relationships, and forward-thinking advice. We’re open over the holidays and available to assist. Reach out, we’d love to connect.
Merry Christmas and a Happy New Year.