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This table shows each bank’s prediction between December 2025 and December 2026.

Let’s dig into the details of each bank’s prediction.

More from Opes:

Reserve Bank house price predictions

The Reserve Bank puts out its house price forecasts every 3 months. This happens when they release their Monetary Policy Statement.

Here is the latest forecast they released in August 2025.

The Reserve Bank predicts that house prices will go up 3.89% in the year to December 2026.

ANZ house price predictions

ANZ frequently puts out new house price predictions. They update these often and summarise them in their monthly report – Property Focus.

ANZ predicts that house prices will go up 5.00% in the year to December 2026.

ASB house price predictions

ASB releases new house price predictions every quarter. These are part of their Quarterly Economic Forecasts. Though in truth, sometimes they come out once every 4 months.

They published their latest forecast in September 2025. This showed that they think house prices will increase by 4.00% in the year to December 2026.

They don’t release their spreadsheets like the Reserve Bank, ANZ and Westpac do. But they do release a range of predictions, like this:

ASB House price predictions and forecasts
Example of ASB house price and economic forecasts

BNZ house price predictions

Like ASB, BNZ doesn’t release a spreadsheet with their forecasts. But they do regularly update their predictions in their weekly Markets Outlook report.

The latest forecast I’ve seen came out in October 2025. At that point, they thought house prices would go up by 4.40% in the year to December 2026.

Here’s an example of one of their Markets Outlook reports.

BNZ House price predictions and forecasts
Example of BNZ house price and economic forecasts

Westpac house price predictions

Westpac is one of the only banks that releases all their forecasts in a spreadsheet. This means we can see more closely where they think house prices will go.

Westpac released its most recent forecast in October 2025. At that point, Westpac thought that house prices would go up by 5.35% in the 12 months to December 2026.

Is it a good time for me to invest?

The median forecaster says house prices will increase by 4.40% in the year to December 2026.

So what would happen if you bought an $800k property in Auckland and it went up in value by 4.40% next year?

By the end of the year, it might be worth $835,200. You made $35,200.

Based on the bank's forecasts, here’s what the returns would look like.

Ed solo

Ed McKnight

Our Resident Economist, with a GradDipEcon and over five years at Opes Partners, is a trusted contributor to NZ Property Investor, Informed Investor, Stuff, Business Desk, and OneRoof.

Ed, our Resident Economist, is equipped with a GradDipEcon, a GradCertStratMgmt, BMus, and over five years of experience as Opes Partners' economist. His expertise in economics has led him to contribute articles to reputable publications like NZ Property Investor, Informed Investor, OneRoof, Stuff, and Business Desk. You might have also seen him share his insights on television programs such as The Project and Breakfast.

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