2026 is here – how is it looking?
As we close out 2025 and look ahead to 2026, the summer period has provided a useful snapshot of how New Zealand’s property market — and our own portfolio — is tracking.
From exceptionally low rent arrears over the Christmas period, to emerging government reforms that could simplify property improvements, and renewed discussion around foreign buyers, interest rates, and housing confidence, there’s been plenty worth paying attention to.
Below we’ve pulled together our end-of-year reflections: how our portfolio performed, the policy and market signals we’re watching closely, insights from economist Tony Alexander, and a few Wendell team updates. Whether you’re an existing property owner or simply keeping an eye on the Auckland and Queenstown property markets, we hope this provides helpful context as the year begins.
Market & Policy Notes
Planning & Consenting Reforms — “Once-in-a-Generation” Shift
The Government has announced a major overhaul of New Zealand’s planning and consenting system, aimed at simplifying processes and reducing red tape. Over time, this is expected to remove the need for consent for many low-risk works.
For property owners, the ability to alter or build items such as decks and other outdoor improvements without lengthy consent processes will be a significant help when upgrading and maintaining rental properties.
Interesting fact: Under the proposed changes, up to 22,000 consent and permit applications each year may no longer be required.
Foreign Buyer Rules — What’s Changing in 2026?
Changes to the Overseas Investment Act mean that certain foreign buyers — primarily those holding an Active Investor Plus (golden visa) — will be able to purchase or build one residential property valued at $5 million or more.
These changes are expected to take effect in early 2026, once final guidance is issued. The impact is anticipated to be concentrated largely in Auckland and Queenstown’s luxury markets, rather than the broader rental sector.
Interesting fact: Applications under the revised rules are expected to be processed in around 15 working days, significantly faster than previous regimes.
Renting Rules — Helpful Holiday Reading
RNZ published two practical articles over the break that clearly outline common misconceptions:
Both are useful refreshers that reinforce expectations and responsibilities on both sides of a tenancy.
Tony Alexander — Key Takeaways to end 2025
In his latest update, Tony Alexander notes that New Zealand’s housing market remains in a period of adjustment rather than decline, with activity levels stabilising and confidence slowly rebuilding. He highlights that while interest rates are likely to ease gradually over 2026, households and investors remain cautious, prioritising cashflow, certainty, and resilience over rapid capital growth.
His overall message is one of measured optimism — with conditions improving, but decision-making still grounded in affordability, long-term fundamentals, and risk management.
Team News & Transitions
- Warm congratulations to Barnabas and Claire, who welcomed a healthy baby boy at the end of 2025 — a very special early Christmas present for their family.
- Gina will soon begin her maternity leave, and we wish her all the very best.
- Tash Walker will be stepping into Gina’s role to manage new customer enquiries while she’s away, ensuring continuity of service for prospective owners.
As the year turns, it’s also worth pausing to recognise contribution and service more broadly.
The 2026 New Year Honours acknowledged New Zealanders who have made outstanding contributions across medicine, business, sport, the arts and philanthropy — a timely reminder of the people and values that underpin our communities.
To our own Wendell community, thank you for your continued trust and engagement. Property ownership is a long-term journey, and we’re proud to support you with clarity, care and practical advice as conditions evolve.
We look forward to what 2026 brings and, as always, we’re here if you’d like to talk through your property, the market, or what’s ahead.
Ngā mihi nui,
Natalie Wendell
Director, Wendell Property