New Zealand's year-on-year housing market value remained flat in February, decreased in Auckland by 1.1%, and increased outside Auckland by 0.7%, according to the REINZ House Price Index (HPI) reported on Monday.

The median sale price in Canterbury had a 2.1% increase compared with last year, the eighth-worst annual return of all the regions, showing a market where performance is "middle of the road" in the long term compared to other regions.

Southland retains the top spot for HPI percentage changes over the 12 months ending February 2026.

Canterbury and Bay of Plenty came second and third, respectively, for annual percentage movement.