Average House Prices in New Zealand decreased to 900521 NZD in September from 906977 NZD in August of 2025. This dataset includes a chart with historical data for New Zealand Average House Prices.

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 June 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, remaining at the same level as in June 2024.

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.

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.

CEIC calculates House Prices Growth from quarterly House Price Index. The Reserve Bank of New Zealand provides House Price Index, calculated from Reserve Bank of New Zealand estimates, with base December 2003=1000.

House Price Index YoY in New Zealand decreased to -0.20 percent in September from 0.20 percent in August 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 Q1 2025 about New Zealand, residential, HPI, housing, price index, indexes, and price.

New Zealand has *** 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 fourth quarter of 2024, the ratio was *****, a slight 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 2024, 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: 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.

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.

House price index in New Zealand, March, 2025 The most recent value is 232.81 index points as of Q1 2025, a decline compared to the previous value of 233.65 index points. Historically, the average for New Zealand from Q1 1990 to Q1 2025 is 105.87 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

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.

The average rent in the housing market in New Zealand was *** 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 *** New Zealand dollars per week, respectively.

The average rent in the housing market in Auckland, New Zealand was *** New Zealand dollars per week as of December 2024. This marked a significant increase in the average rent in Auckland from the start of the given period.

This layer shows the average household size in New Zealand in 2021, in a multiscale map (Country, Region, Territorial Authority, and Statistical Area). Nationally, the average household size is 2.7 people per household. It is calculated by dividing the household population by total households.The pop-up is configured to show the following information at each geography level:Average household size (people per household)Total populationTotal householdsCount of population by marital statusCount of households by typeCount of population by 15-year age increments The source of this data is Michael Bauer Research. The vintage of the data is 2021. This item was last updated in November, 2022 and is updated every 12-18 months as new annual figures are offered.Additional Esri Resources:Esri DemographicsThis item is for visualization purposes only and cannot be exported or used in analysis.We would love to hear from you. If you have any feedback regarding this item or Esri Demographics, please let us know.Permitted use of this data is covered in the DATA section of the Esri Master Agreement (E204CW) and these supplemental terms.

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.

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
• severe housing deprivation
• home ownership rates
• mould and damp.

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Data is available by territorial authority and Auckland local board.

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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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Severe housing deprivation has data for the census usually resident population from the 2018 and 2023 Censuses, including:

• estimated prevalence rate of severe housing deprivation (per 10,000 people)
• estimated rate for those; without shelter, in temporary accommodation, sharing someone else’s private dwelling, in uninhabitable housing, for whom it could not be determined whether they were severely housing deprived or not.

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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 estimated prevalence rate of severe housing deprivation (per 10,000 people) for the census usually resident population 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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Subnational census usually resident population

The census usually resident population count of an area (subnational count) is a count of all people who usually live in that area and were present in New Zealand on census night. It excludes visitors from overseas, visitors from elsewhere in New Zealand, and residents temporarily overseas on census night. For example, a person who usually lives in Christchurch city and is visiting Wellington city on census night will be included in the census usually resident population count of Christchurch city. 

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Population counts

Stats NZ publishes a number of different population counts, each using a different definition and methodology. Population statistics – user guide has more information about different counts. 

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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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Severe housing deprivation time series

The 2018 estimates of severe housing deprivation have been updated using the 2023 methodology for estimating severe housing deprivation. Severe housing deprivation (homelessness) estimates – updated methodology: 2023 Census has more information.

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Severe housing deprivation

Figures in this map and geospatial file exclude Women’s refuge data, as well as estimates for children living in non-private dwellings. Severe housing deprivation (homelessness) estimates – updated methodology: 2023 Census has more information.

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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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Census usually resident population count concept quality rating

The census usually resident population count is rated as very high quality.

Census usually resident population count – 2023 Census: Information by concept has more information, for example, definitions and data quality.

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Quality of severe housing deprivation data

Severe housing deprivation (homelessness) estimates – updated methodology: 2023 Census has more information on the data quality of this 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

This is the look-up table for Building Age and is part of the set of District Valuation Roll (DVR) data.

The Building Age look-up table is used by the NZ Properties: National District Valuation Roll table.

Look-up tables are provided to make it easier to interpret coded DVR attributes and are given as reference data, pre-populated with fixed values defined in the Rating Valuations Rules 2008.

More information Please refer to the NZ Properties Data Dictionary for detailed metadata and information about this table.

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.

In the year to April 2021, house prices in the Gisborne region of New Zealand increased by on average **** 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.