Iran war: Real estate agents’ urgent ‘crisis’ talks with vendors, and their advice to them

Sunday, 12 April 2026

Do it now, or don’t do it at all - at least, not for awhile.

That’s the advice from Auckland real estate sales manager Scott Dunn who says his salespeople are holding urgent “crisis” meetings with clients thinking of selling later this year.

There are two traditional peak selling seasons for real estate, he says. One is in March at the end of the financial year, and the other is spring in September-October.

City Sales real estate agency has specialised in the Auckland apartment market for nearly 30 years. Over that time, it has operated through tough economic conditions, and many conflicts, and elections.

Dunn says they know how the local market reacts to crises, and another risky market scenario is looming.

“This year the Middle East conflict, fuel shortages, interest rates and the upcoming election are coming together to create a selling environment where the mid to tail end of 2026 is not looking promising,” he says.

“We find ourselves in a position where we are advising clients that waiting for the spring selling season is not a good idea this year as we expect the situation to worsen.”

Anyone thinking of selling over the next 12 months should make the call to either list their property for sale now, well ahead of the elections, or consider a longer term hold as an alternative, he says.

That might mean getting a tenant into the property for a year or so if it is empty, or maintaining the status quo if the property is rented or being used by family members.

Dunn says the banks have picked up on the environment, and changed their price predictions from slight gains this year to slight losses. This week the Reserve bank left the Official Cash Rate unchanged at 2.25%.

But anything local or global which can influence the availability of money can have a big impact on the market, he says.

“Things like international conflict and fuel shortages can really restrict the banks’ appetite to lend money. Less money equals less sales.

“In fact, banks have already got tighter on lending, and are putting more conditions in and it is becoming more difficult to get finance, especially for apartments or investing.”

The looming election is compounding the problem as the real estate market is always softer in the months surrounding an election, he says.

“Uncertainty impacts on the market, and this time round the prospect of a potential change of government from National to Labour is worrying many investors.

“They are wary of tax and tenancy law changes, and more red tape and compliance. It affects their cost, and profit margins, and leaves them willing to pay less for a property.

“That makes for less demand, and there’s a flow-on effect for retail buyers too.”

Dunn says he is an optimist by nature and does not tend towards negative outlooks, but he believes that a higher risk period lies ahead.

It is not all doom and gloom though, as March was a strong month, the opening of Auckland’s CRL later this year will be good for Auckland CBD and its market, and there are still buyers round, he says.

“We are actually a bit short on stock - I’d expect to have more at this time of the year. It’s not a drought, but it indicates there are sellers holding back, and not listing.

“There is trepidation in the market, and when we’ve talked to clients about the situation, most have understood or been in agreement. No-one is saying ‘that’s ridiculous - it will be fine’.”

When it comes to the operation of the agency, higher fuel prices are making it harder for some of his salespeople who live far away from the office, he adds.

“But we still have a full office. If the crisis continues that might change, and some may choose to work from home more, and just come in for auctions and meetings.”