Average House Prices in New Zealand increased to 902020 NZD in October from 900521 NZD in September of 2025. This dataset includes a chart with historical data for New Zealand Average House Prices.

The price of residential property in New Zealand was the highest in the Auckland region in October 2025, with an average sale price of over *** million New Zealand dollars. The most populated city in the country, Auckland, has consistently reported higher house prices compared to most other regions. Buying property in New Zealand, particularly in its major cities, is expensive. The nation has one of the highest house-price-to-income ratios in the world. Auckland residential market The residential housing market in Auckland is competitive. Prices have been slowly decreasing although the Auckland region experienced an annual increase in the average residential house price in October 2025 compared to the same month in the previous year. The price of residential property in Auckland was the highest in the Auckland City district, with an average sale price of around **** million New Zealand dollars. Home financing Due to the rising cost of real estate, an increasing number of New Zealanders who want to own their own property are taking on mortgages. Most residential mortgage lending in New Zealand went to owner-occupier borrowers, followed by first home buyers. In addition to mortgage lending, previously under the KiwiSaver HomeStart initiative, first-home buyers in New Zealand were able to apply to withdraw all or part of their KiwiSaver retirement savings to assist with purchasing a first home. Nonetheless, the scheme was discontinued in May 2024. Furthermore, even with a large initial deposit, it may take decades for many borrowers to pay off their mortgage.

The average residential house price in New Zealand was at around ******* New Zealand dollars as at November 2024. This marked a decrease in the average residential property price in New Zealand from the same period of 2023, in which an average house price of approximately ******* New Zealand dollars was recorded.

In October 2025, the West Coast region recorded the largest annual change in residential property prices in New Zealand, with an increase of around **** percent compared to the same month of the previous year. The national median price for residential property in New Zealand was ******* New Zealand dollars in that month, a decrease from October 2024.

Key information about House Prices Growth

• New Zealand house prices dropped 0.7% YoY in Jun 2025, following a decrease of 1.7% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Dec 1990 to Jun 2025, with an average growth rate of 0.0%.

Graph and download economic data for Real Residential Property Prices for New Zealand (QNZR628BIS) from Q2 1962 to Q2 2025 about New Zealand, residential, HPI, housing, real, price index, indexes, and price.

House Price Index YoY in New Zealand increased to 0 percent in October from -0.10 percent in September of 2025. This dataset includes a chart with historical data for New Zealand House Price Index YoY.

The highest average cost of building a new house in New Zealand as of 2023 was in the Otago region, with an average value of over *** thousand New Zealand dollars. The average cost of building a new house in New Zealand that same year was over *** thousand New Zealand dollars.

New Zealand NZ: Price to Income Ratio: sa data was reported at 105.825 2015=100 in Mar 2025. This records a decrease from the previous number of 107.289 2015=100 for Dec 2024. New Zealand NZ: Price to Income Ratio: sa data is updated quarterly, averaging 88.910 2015=100 from Mar 1986 (Median) to Mar 2025, with 157 observations. The data reached an all-time high of 142.895 2015=100 in Dec 2021 and a record low of 46.819 2015=100 in Mar 1987. New Zealand NZ: Price to Income Ratio: sa data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s New Zealand – Table NZ.OECD.AHPI: House Price Index: Seasonally Adjusted: OECD Member: Quarterly. Nominal house prices divided by nominal disposable income per head. Net household disposable income is used. The population data come from the OECD national accounts database.

New Zealand Household Inflation Expectation: House Price: 1 Year - Mean data was reported at 2.700 % in Mar 2025. This records an increase from the previous number of 2.200 % for Dec 2024. New Zealand Household Inflation Expectation: House Price: 1 Year - Mean data is updated quarterly, averaging 4.050 % from Jun 2011 (Median) to Mar 2025, with 56 observations. The data reached an all-time high of 6.400 % in Mar 2021 and a record low of -0.500 % in Jun 2020. New Zealand Household Inflation Expectation: House Price: 1 Year - Mean data remains active status in CEIC and is reported by Reserve Bank of New Zealand. The data is categorized under Global Database’s New Zealand – Table NZ.I027: Household Inflation Expectation.

In June 2025, the Papakura district recorded the largest annual change in residential property prices in Auckland, New Zealand, with a decrease of *** percent compared to June of the previous year. Across the entire Auckland region, Auckland City had the highest average residential property sales price.

The average price of residential property in New Zealand in December 2024 was around ******* New Zealand dollars. Auckland had the highest average sales price across the country's regions that year at around *********** New Zealand dollars.

New Zealand NZ: Standardised Price-Income Ratio: sa data was reported at 131.448 Ratio in Mar 2025. This records a decrease from the previous number of 133.266 Ratio for Dec 2024. New Zealand NZ: Standardised Price-Income Ratio: sa data is updated quarterly, averaging 110.437 Ratio from Mar 1986 (Median) to Mar 2025, with 157 observations. The data reached an all-time high of 177.494 Ratio in Dec 2021 and a record low of 58.155 Ratio in Mar 1987. New Zealand NZ: Standardised Price-Income Ratio: sa data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s New Zealand – Table NZ.OECD.AHPI: House Price Index: Seasonally Adjusted: OECD Member: Quarterly. Nominal house prices divided by nominal disposable income per head. Net household disposable income is used. The population data come from the OECD national accounts database. The long-term average is calculated over the whole period available when the indicator begins after 1980 or after 1980 if the indicator is longer. This value is used as a reference value. The ratio is calculated by dividing the indicator source on this long-term average, and indexed to a reference value equal to 100.

Denmark Property Price: DR: Capital Region: North Zealand (NZ) data was reported at 20,974.000 DKK/sq m in Mar 2018. This records an increase from the previous number of 20,849.000 DKK/sq m for Dec 2017. Denmark Property Price: DR: Capital Region: North Zealand (NZ) data is updated quarterly, averaging 16,474.000 DKK/sq m from Mar 1992 (Median) to Mar 2018, with 105 observations. The data reached an all-time high of 24,556.000 DKK/sq m in Dec 2006 and a record low of 5,344.000 DKK/sq m in Mar 1993. Denmark Property Price: DR: Capital Region: North Zealand (NZ) data remains active status in CEIC and is reported by Association of Danish Mortgage Banks. The data is categorized under Global Database’s Denmark – Table DK.P002: Property Price: by Region.

New Zealand has one of the highest house price-to-income ratios in the world; nonetheless, since the first quarter of 2022, the country's house price-to-income ratio started to trend downward. In the first quarter of 2025, the ratio was *****, a decrease from the same quarter of the previous year. This ratio was calculated by dividing nominal house prices by nominal disposable income per head, and is considered a measure of affordability. Homeownership dream New Zealand has been in what is widely considered a housing bubble. The disproportionately large increases in residential house prices have placed the dream of owning their own home out of reach for many in the country. In 2025, around ** percent of residential properties were sold for over a million New Zealand dollars. The majority of mortgage lending in the country went to owner-occupiers where the property was not their first home, with first-home buyers often struggling to secure a loan. In general, only New Zealand residents and citizens can buy homes in the country to live in, with new regulations tightening investment activity in that market. Rent affordability Due to New Zealand's high property prices, many individuals and families are stuck renting for prolonged periods. However, with rent prices increasing across the country and the share of monthly income spent on rent trending upwards in tandem with a highly competitive rental market, renting is becoming a less appealing prospect for many. The Auckland and Bay of Plenty regions had the highest weekly rent prices across the country as of December 2024, with the Southland region recording the lowest rent prices per week.

New Zealand NZ: Rent Price Index: sa data was reported at 135.979 2015=100 in Mar 2025. This records an increase from the previous number of 135.055 2015=100 for Dec 2024. New Zealand NZ: Rent Price Index: sa data is updated quarterly, averaging 61.139 2015=100 from Mar 1956 (Median) to Mar 2025, with 277 observations. The data reached an all-time high of 135.979 2015=100 in Mar 2025 and a record low of 2.927 2015=100 in Mar 1956. New Zealand NZ: Rent Price Index: sa data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s New Zealand – Table NZ.OECD.AHPI: House Price Index: Seasonally Adjusted: OECD Member: Quarterly.

The household economic survey (HES) is an annual survey designed to measure the economic wellbeing of New Zealanders. HES has three components: HES income, HES expenditure, and HES net worth. - HES income is the main vehicle, and it is run every year. It includes household income, housing costs, and material wellbeing – this is ‘core’ HES. - HES expenditure includes additional components – an expenditure diary and an expanded household expenditure questionnaire. It runs every three years. - HES net worth includes additional questions on household assets and liabilities. It also runs every three years.

Portugal, Canada, and the United States were the countries with the highest house price to income ratio in 2024. In all three countries, the index exceeded 130 index points, while the average for all OECD countries stood at 116.2 index points. The index measures the development of housing affordability and is calculated by dividing nominal house price by nominal disposable income per head, with 2015 set as a base year when the index amounted to 100. An index value of 120, for example, would mean that house price growth has outpaced income growth by 20 percent since 2015. How have house prices worldwide changed since the COVID-19 pandemic? House prices started to rise gradually after the global financial crisis (2007–2008), but this trend accelerated with the pandemic. The countries with advanced economies, which usually have mature housing markets, experienced stronger growth than countries with emerging economies. Real house price growth (accounting for inflation) peaked in 2022 and has since lost some of the gain. Although, many countries experienced a decline in house prices, the global house price index shows that property prices in 2023 were still substantially higher than before COVID-19. Renting vs. buying In the past, house prices have grown faster than rents. However, the home affordability has been declining notably, with a direct impact on rental prices. As people struggle to buy a property of their own, they often turn to rental accommodation. This has resulted in a growing demand for rental apartments and soaring rental prices.

New Zealand Household Inflation Expectation: House Price: 1 Year - Median data was reported at 0.000 % in Mar 2025. This stayed constant from the previous number of 0.000 % for Dec 2024. New Zealand Household Inflation Expectation: House Price: 1 Year - Median data is updated quarterly, averaging 3.000 % from Jun 2011 (Median) to Mar 2025, with 56 observations. The data reached an all-time high of 6.000 % in Mar 2021 and a record low of 0.000 % in Mar 2025. New Zealand Household Inflation Expectation: House Price: 1 Year - Median data remains active status in CEIC and is reported by Reserve Bank of New Zealand. The data is categorized under Global Database’s New Zealand – Table NZ.I027: Household Inflation Expectation.

Monthly real estate statistics for Auckland including median prices, days on market, and sales volumes.