The price of residential property in New Zealand was the highest in the Auckland region in June 2025, with an average sale price of around ******* 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; the Auckland region experienced an annual decrease in the average residential house price in March 2025 compared to the same month in the previous year. The price of residential property in Auckland was the highest in the North Shore 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.

Average House Prices in New Zealand decreased to 910479 NZD in June from 913772 NZD in May of 2025. This dataset includes a chart with historical data for New Zealand Average House Prices.

Key information about House Prices Growth

• New Zealand house prices dropped 0.9% YoY in Sep 2024, following an increase of 1.5% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Dec 1990 to Sep 2024, with an average growth rate of 5.3%.
• House price data reached an all-time high of 30.5% in Sep 2021 and a record low of -12.1% in Mar 2023.

The average residential house price in New Zealand was at around 908,000 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 914,000 New Zealand dollars was recorded.

House Price Index YoY in New Zealand decreased by 0.60 percent in June from -1.10 percent in May of 2025. This dataset includes a chart with historical data for New Zealand House Price Index YoY.

Graph and download economic data for Residential Property Prices for New Zealand (QNZN628BIS) from Q2 1962 to Q4 2024 about New Zealand, residential, HPI, housing, price index, indexes, and 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 Residential Sales: Median House Price data was reported at 560,000.000 NZD in Jun 2018. This records a decrease from the previous number of 562,000.000 NZD for May 2018. New Zealand Residential Sales: Median House Price data is updated monthly, averaging 292,500.000 NZD from Jan 1993 (Median) to Jun 2018, with 306 observations. The data reached an all-time high of 562,000.000 NZD in May 2018 and a record low of 113,000.000 NZD in Apr 1993. New Zealand Residential Sales: Median House Price data remains active status in CEIC and is reported by Real Estate Institute of New Zealand. The data is categorized under Global Database’s New Zealand – Table NZ.EB001: Residential Sales.

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.

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 NZ: Price to Income Ratio: sa data was reported at 117.981 2015=100 in Sep 2024. This records a decrease from the previous number of 120.692 2015=100 for Jun 2024. New Zealand NZ: Price to Income Ratio: sa data is updated quarterly, averaging 79.512 2015=100 from Mar 1986 (Median) to Sep 2024, with 155 observations. The data reached an all-time high of 143.218 2015=100 in Dec 2021 and a record low of 46.765 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.

House price index in New Zealand, December, 2024 The most recent value is 233.12 index points as of Q4 2024, an increase compared to the previous value of 231.02 index points. Historically, the average for New Zealand from Q1 1990 to Q4 2024 is 104.95 index points. The minimum of 30.86 index points was recorded in Q1 1992, while the maximum of 267.78 index points was reached in Q4 2021. | TheGlobalEconomy.com

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

In the year to April 2021, house prices in the Gisborne region of New Zealand increased by on average 72.4 percent, the largest increase of all regions across the country. The Tasman, Nelson, and Marlborough regions saw the smallest increase in median house prices in that same period.

Real residential property prices Y-on-Y, percent change in New Zealand, December, 2024 The most recent value is -3.95 percent as of Q4 2024, a decline compared to the previous value of -3.26 percent. Historically, the average for New Zealand from Q1 1990 to Q4 2024 is 3.81 percent. The minimum of -17.19 percent was recorded in Q1 2023, while the maximum of 24.36 percent was reached in Q2 2021. | TheGlobalEconomy.com

New Zealand NZ: Standardised Price-Rent Ratio: sa data was reported at 181.586 Ratio in Sep 2024. This records a decrease from the previous number of 185.423 Ratio for Jun 2024. New Zealand NZ: Standardised Price-Rent Ratio: sa data is updated quarterly, averaging 61.688 Ratio from Mar 1970 (Median) to Sep 2024, with 219 observations. The data reached an all-time high of 233.963 Ratio in Dec 2021 and a record low of 44.296 Ratio in Dec 1970. New Zealand NZ: Standardised Price-Rent 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 rent price indices. 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.

The House Construction industry plays a vital role in New Zealand's economy, meeting a need for home ownership and rental accommodation while stimulating economic growth. A shift in housing preferences towards medium-to-high-density apartments and townhouses, reflecting an escalation in house and land prices and modern lifestyle choices, is constraining the industry’s long-term performance. Changing government policies on first-home buyer grants, mortgage payment taxation and the promotion of social housing also profoundly affect the industry's performance. During the COVID-19 pandemic, the industry benefited from strong population growth, higher household savings and record-low mortgage rates. Government measures like first-home buyer stimulus, easing loan-to-value (LTV) restrictions and Housing Acceleration Fund (HAF) investments further supported growth. Still, a hike in mortgage interest rates as the Reserve Bank of New Zealand attempted to rein in inflation has choked off housing investment in recent years and slashed new dwelling consents. Given the rollercoaster that homebuilders have been on over the past five years, industry revenue is only expected to edge up at an annualised 0.3%, to $21.0 billion, over the past five years despite contracting by an estimated 2.5% in 2024-25. While some builders thrived during a 2022-23 housing boom, industry profit margins have plummeted in recent years with slumping housing investment. Many builders saw their profit shrink amid climbing input prices and supply chain disruptions, and some builders on fixed-price contracts struggled to absorb the higher input costs. Looking ahead, homebuilders face harsh conditions over the next few years, losing ground to the Multi-Unit Apartment and Townhouse Construction industry. Mounting population pressures support constructing new accommodation, and easing mortgage interest rates will encourage investment in residential building construction and are projected to drive total dwelling consents up by an annualised 2.3%. However, continued growth in house and land prices will drive investment towards medium-to-high-density dwelling options, like duplexes, townhouses, flats and apartments. In light of this, industry revenue is forecast to fall marginally at an annualised 0.2% to $20.9 billion through the end of 2029-30.

The average rent in the housing market in Wellington, New Zealand was 625 New Zealand dollars per week as of December 2024. The Auckland and Bay of Plenty regions had the highest mean rents for residential housing across the country at 650 New Zealand dollars per week, respectively.

Dataset for the maps accompanying the Housing in Aotearoa New Zealand: 2025 report. This dataset contains counts and measures for:

• average number of private dwellings per square kilometre
• home ownership rates
• mould and damp.

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Data is available by statistical area 2.

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Average number of private dwellings per square kilometre has data for occupied, unoccupied, and total private dwellings from the 2013, 2018, and 2023 Censuses, including:

• dwelling counts
• percentage change in the count of dwellings
• average number of dwellings per square kilometre.

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Home ownership rates has data for households in occupied private dwellings from the 2013, 2018, and 2023 Censuses, including:

• counts and percentages for households that owned their home or held it in a family trust, or did not own their home
• percentage change in the count of households that owned their home or held it in a family trust, or did not own their home.

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Mould and damp has data for occupied private dwellings from the 2018 and 2023 Censuses, including:

• counts and percentages for dwellings with or without mould or damp
• percentage change in the count of dwellings with or without mould or damp.

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Map shows the average number of private dwellings per square kilometre for the 2023 Census.

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Map shows the percentage of households in occupied private dwellings that owned their home or held it in a family trust for the 2023 Census.

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Map shows the percentage of occupied private dwellings that were damp or mouldy for the 2023 Census.

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Download lookup file from Stats NZ ArcGIS Online or embedded attachment in Stats NZ geographic data service. Download data table (excluding the geometry column for CSV files) using the instructions in the Koordinates help guide.

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Footnotes

Geographical boundaries

Statistical standard for geographic areas 2023 (updated December 2023) has information about geographic boundaries as of 1 January 2023. Address data from 2013 and 2018 Censuses was updated to be consistent with the 2023 areas. Due to the changes in area boundaries and coding methodologies, 2013 and 2018 counts published in 2023 may be slightly different to those published in 2013 or 2018.

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Caution using time series

Time series data should be interpreted with care due to changes in census methodology and differences in response rates between censuses. The 2023 and 2018 Censuses used a combined census methodology (using census responses and administrative data), while the 2013 Census used a full-field enumeration methodology (with no use of administrative data).

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Dwelling density

This data shows the average number of private dwellings (occupied and unoccupied) per square kilometre of land for an area. This is a measure of dwelling density.

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About the 2023 Census dataset

For information on the 2023 Census dataset see Using a combined census model for the 2023 Census. We combined data from the census forms with administrative data to create the 2023 Census dataset, which meets Stats NZ's quality criteria for population structure information. We added real data about real people to the dataset where we were confident the people who hadn’t completed a census form (which is known as admin enumeration) will be counted. We also used data from the 2018 and 2013 Censuses, administrative data sources, and statistical imputation methods to fill in some missing characteristics of people and dwellings.

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Data quality

The quality of data in the 2023 Census is assessed using the quality rating scale and the quality assurance framework to determine whether data is fit for purpose and suitable for release. Data quality assurance in the 2023 Census has more information.

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Quality rating of a variable

The quality rating of a variable provides an overall evaluation of data quality for that variable, usually at the highest levels of classification. The quality ratings shown are for the 2023 Census unless stated. There is variability in the quality of data at smaller geographies. Data quality may also vary between censuses, for subpopulations, or when cross tabulated with other variables or at lower levels of the classification. Data quality ratings for 2023 Census variables has more information on quality ratings by variable.

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Dwelling occupancy status quality rating

Dwelling occupancy status is rated as high quality.

Dwelling occupancy status – 2023 Census: Information by concept has more information, for example, definitions and data quality.

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Dwelling type quality rating

Dwelling type is rated as moderate quality.

Dwelling type – 2023 Census: Information by concept has more information, for example, definitions and data quality.

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Tenure of household quality rating

Tenure of household is rated as moderate quality.

Tenure of household – 2023 Census: Information by concept has more information, for example, definitions and data quality.

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Dwelling dampness indicator quality rating

Dwelling dampness indicator is rated as moderate quality.

Housing quality – 2023 Census: Information by concept has more information, for example, definitions and data quality.

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Dwelling mould indicator quality rating

Dwelling mould indicator is rated as moderate quality.

Housing quality – 2023 Census: Information by concept has more information, for example, definitions and data quality.

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Using data for good

Stats NZ expects that, when working with census data, it is done so with a positive purpose, as outlined in the Māori Data Governance Model (Data Iwi Leaders Group, 2023). This model states that "data should support transformative outcomes and should uplift and strengthen our relationships with each other and with our environments. The avoidance of harm is the minimum expectation for data use. Māori data should also contribute to iwi and hapū tino rangatiratanga”.

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Confidentiality

The 2023 Census confidentiality rules have been applied to 2013, 2018, and 2023 data. These rules protect the confidentiality of individuals, families, households, dwellings, and undertakings in 2023 Census data. Counts are calculated using fixed random rounding to base 3 (FRR3) and suppression of ‘sensitive’ counts less than six, where tables report multiple geographic variables and/or small populations. Individual figures may not always sum to stated totals. Applying confidentiality rules to 2023 Census data and summary of changes since 2018 and 2013 Censuses has more information about 2023 Census confidentiality rules.

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Symbol

-998 Not applicable

-999 Confidential

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Inconsistencies in definitions

Please note that there may be differences in definitions between census classifications and those used for other data collections.

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In December 2024, the average sales price of residential properties sold in Auckland, New Zealand amounted to around *********** New Zealand dollars. Auckland property prices peaked in November 2021, with prices gradually declining throughout 2022 and early 2023.