The price of residential property in New Zealand was the highest in the Auckland region in March 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.

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.

Average House Prices in New Zealand decreased to 913772 NZD in May from 914504 NZD in April 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.

House Price Index YoY in New Zealand decreased by 1.10 percent in May from -1.30 percent in April of 2025. This dataset includes a chart with historical data for New Zealand House Price Index YoY.

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.

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.

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.

The average price of residential property in New Zealand in December 2024 was around 775,000 New Zealand dollars. Auckland had the highest average sales price across the country's regions that year at around one million New Zealand dollars.

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

Housing Index in New Zealand decreased to 2320 Points in May from 2322 Points in April of 2025. This dataset provides - New Zealand House Prices MoM Change - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

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 - 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.

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

New Zealand NZ: Standardised Price-Income Ratio: sa data was reported at 146.477 Ratio in Sep 2024. This records a decrease from the previous number of 149.843 Ratio for Jun 2024. New Zealand NZ: Standardised Price-Income Ratio: sa data is updated quarterly, averaging 98.716 Ratio from Mar 1986 (Median) to Sep 2024, with 155 observations. The data reached an all-time high of 177.810 Ratio in Dec 2021 and a record low of 58.060 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.

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

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 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.