Manawatū Market Insights, What March 2026 Is Telling Us

April 21, 2026

March gave us another useful snapshot of where the local market is sitting, and overall the picture across Palmerston North, Ashhurst, and Feilding remains fairly steady.

There is still plenty of noise in the background, interest rate talk, cost of living pressure, and general uncertainty, but the market itself has continued to move. It is not a runaway market, but it is also not one where buyers have disappeared. Instead, what we are seeing is a more measured environment where good properties are still attracting attention, while buyers are taking their time and weighing things up carefully.

Palmerston North kept moving in March

Palmerston North recorded 134 sales in March, up from 125 in February. The median sale price lifted to $635,000, compared with $610,000 the month before. Median days to sell sat at 35 days, and residential house listings were sitting around the 430 to 440 mark.

That tells us a few things. Firstly, there is still turnover in the market. Secondly, pricing has remained resilient locally. And thirdly, buyers still have enough choice that presentation and pricing strategy matter.

The sales spread also gives a useful read on the shape of the market. There were 28 sales under $500,000, 59 between $501,000 and $700,000, 39 between $701,000 and $999,000, and 7 over $1,000,000. That points to solid activity through the core family-home bracket rather than just movement at one end of the market.

Ashhurst and Feilding also showed activity

Ashhurst, which is included within the Palmerston North figures, recorded 10 house sales in March.

Feilding saw a particularly noticeable lift in activity, with 40 sales in March compared with 19 in February. The median sale price sat at $615,000, median days to sell were 37, and listings were around 135 to 145 properties.

That rise in Feilding sales is a reminder that different parts of the Manawatū can move at slightly different speeds month to month, but there is still active demand across the wider area.

The national picture backs up what we are seeing locally

The latest REINZ data shows a national market that is holding together rather than surging ahead. Sales activity in March was essentially flat year-on-year, median prices remained broadly stable, and median time to sell nationally was 41 days.

That lines up quite well with what we are seeing locally. Buyers are still active, but they are more selective. Vendors can still achieve strong results, but the market is rewarding properties that are well presented, well priced, and easy for buyers to understand.

Cotality points to a cautious but stable market

Cotality’s latest housing chart pack adds another useful layer. Their March update showed that sales volumes in February were down 6.8% compared with a year earlier, but values remained relatively stable. They also noted that first-home buyers continue to be a major force in the market, making up around 27% of purchases across January and February combined.

That matters because it helps explain the tone of the market. We are not seeing broad-based urgency, but we are seeing ongoing activity, particularly where affordability, finance, and property condition line up well.

What this means for sellers

For sellers, this is a market where strategy matters. Buyers have options, and they are taking the time to compare properties properly. That means strong presentation, realistic pricing, and a good launch to market are all important.

Well-presented homes in the right price bracket can still generate strong interest, especially when they feel move-in ready and easy to understand. On the other hand, homes that are overpriced or poorly presented are more likely to sit.

What this means for buyers

For buyers, the current market still offers a reasonable level of choice and a bit more room to think than in hotter conditions. That does not necessarily mean bargains everywhere, but it does mean buyers can be more considered and compare opportunities carefully.

For first-home buyers in particular, the wider national data suggests the conditions are still more workable than they have been in some previous periods, especially where lower mortgage rates and better affordability have improved access to the market.

Final thoughts

Right now, the Manawatū market feels steady rather than soft, and active rather than overheated. Palmerston North, Ashhurst, and Feilding are all still seeing movement, but the market is rewarding the basics, good presentation, smart pricing, and realistic expectations.

If you are wondering where your property might sit in the current market, or you want help making sense of the latest local numbers, feel free to get in touch. We are always happy to talk real estate.

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