OCR Hike Ignites Buying Frenzy in Auckland Real Estate Market

The Reserve Bank of New Zealand (RBNZ) raised its official cash rate (OCR) by 25 basis points to 2.75% as expected, but mortgage rates remain unchanged for now.

ANZ has since increased its floating rates by 25bps.

In Auckland, the real estate market is considered a solid buyers' market with prices largely flat and sales down in August.

New residential building permits reached 40,908 in the year ended July 2026, up 21% from last year, but commercial consents for new office space are easing back due to sluggish economic conditions.