New Zealand House Sales Drop as Iran War Hits Buyer Confidence

New Zealand house sales slowed in the first quarter as rising mortgage interest rates and the Iran war forces buyers to the sidelines.

Sales in January, February and March were all lower than the corresponding year-earlier months, property consultancy Cotality said Thursday in Wellington. Cumulatively, sales in the three months through March were 3.8% less than the first quarter of 2025 while transactions in the 12 months through March are down from a December peak, the report showed.