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.

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.

Graph and download economic data for Real Residential Property Prices for New Zealand (QNZR368BIS) from Q2 1963 to Q4 2024 about New Zealand, residential, housing, real, 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.

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.

Housing Index in New Zealand decreased to 2312 Points in June from 2320 Points in May of 2025. This dataset provides - New Zealand House Prices MoM Change - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

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.

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 Southland region had the lowest mean weekly rent at around *** New Zealand dollars.

Residential Property Prices in New Zealand decreased 1.81 percent in December of 2024 over the same month in the previous year. This dataset includes a chart with historical data for New Zealand Residential Property Prices.

The Real Estate Services industry has faced mixed conditions over recent years. Despite the recent improvement in housing supply and the piling up of inventory, prices remain elevated relative to pre-pandemic levels, offsetting revenue declines for real estate agents. A demand-supply imbalance led to historically high housing prices in 2021-22, though tighter loan-to-value ratio (LVR) regulations and heightened interest rates curbed real estate activity and weakened prices over the two years through 2023-24. The bright-line test extension in 2021 cooled speculative investment, diminishing property investors' interest. Residential property transactions plunged in 2022-23 as cost-of-living pressures and soaring borrowing expenses weighed on mortgage affordability. As inflation moderates and the official cash rate has come down since August 2024, sales volumes and demand will pick up. That's why revenue is forecast to climb 2.8% in 2024-25. However, a plunge in property transactions is why revenue is expected to have dipped at an annualised 0.4% over the five years through 2024-25 to $6.2 billion. The commercial market has faced shifting tenant preferences, particularly around remote work arrangements, contributing to elevated office vacancy rates. Nonetheless, booming demand for industrial space and interest in green buildings has yielded new opportunities. Concurrently, the widespread adoption of artificial intelligence has boosted operational efficiency for many real estate agencies, underpinning growth in their profit margins and alleviating some wage pressures. The Coalition government’s reinstatement of 80% interest deductibility for residential investment properties in April 2024, with a plan to reach 100% by April 2025, alongside the rollback of the bright-line test from 10 to 2 years, will spur investor activity and escalate property prices. These policy changes will entice property investors, expanding this market's revenue share over the coming years and benefiting real estate agencies. Consecutive cuts to the official cash rate to counter subdued economic activity will strengthen mortgage affordability and promote a resurgence in the residential property market. However, an expanding housing supply – aided by funding for social housing units and relaxed planning restrictions – will temper price escalation and slow agencies' commission growth over the coming years. Rising competition among real estate agencies and the continued adoption of digital tools, from big data analytics to advanced customer management solutions, will intensify market dynamics, creating opportunities and challenges for prospective and existing agents. Overall, revenue is forecast to climb at an annualised 2.2% over the five years through 2029-30 to $6.9 billion.

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.

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

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.

Key information about New Zealand Gold Production

• New Zealand Real Residential Property Price Index was reported at 169.844 2010=100 in Mar 2024.
• This records a decrease from the previous number of 170.894 2010=100 for Dec 2023.
• New Zealand Real Residential Property Price Index data is updated quarterly, averaging 60.637 2010=100 from Mar 1970 to Mar 2024, with 217 observations.
• The data reached an all-time high of 216.278 2010=100 in Dec 2021 and a record low of 35.788 2010=100 in Dec 1970.
• New Zealand Real Residential Property Price Index data remains active status in CEIC and is reported by Bank for International Settlements.
• The data is categorized under World Trend Plus’s Association: Property Sector – Table RK.BIS.RPPI: Selected Real Residential Property Price Index: 2010=100: Quarterly. [COVID-19-IMPACT]

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.

AU and NZ Real Estate Advisory Service Market size was valued at USD 6.0 Billion in 2024 and is projected to reach USD 6.2 Billion by 2032, growing at a CAGR of 2.8% from 2026 to 2032.

AU and NZ Real Estate Advisory Service Market Drivers

1. Urbanisation and Economic Growth

In major cities like Sydney, Melbourne, Auckland, and Wellington, the economy is still expanding, which is driving up demand for real estate consultancy services.Opportunities are being created in both the residential and commercial sectors by urban sprawl and infrastructure development (such as transportation and commercial zones).2. Migration and Population Growth The need for housing, rental units, and mixed-use complexes is increasing due to the high rate of population increase, especially from immigration.

Advisory firms are assisting customers in locating investment possibilities and places with strong demand.

The average rent in the housing market in Marlborough, 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.

Demand for financial asset broking services has been mixed over the past few years. Merger and acquisition (M&A) activity peaked in 2021, spurred by digitisation trends and low interest rates. More recently, inflationary pressures and subdued business sentiment have curtailed M&A plans. Still, demand in the technology and telecommunications sectors, driven by rising interest in AI, continues to offer respite within the broader M&A landscape. Meanwhile, mortgage broking plunged along with new residential mortgage lending over the two years through 2023-24 as dwindling housing affordability weighed on mortgage uptake. However, mortgage activity has since rebounded, as successive cash rate cuts from August 2024 have improved housing affordability and stimulated property transactions. New Zealand’s small market size and strong competition from foreign exchanges, notably the ASX, constrain industry revenue and profitability expansion. Despite rocky market conditions, some segments, like capital raising, have outperformed other investment banking services. Companies seeking to fortify their balance sheets amid a harsh trading environment have bolstered capital-raising activity. Amendments to the NZX’s listing rules in January 2024 to allow accelerated non-renounceable entitlement offers (ANREOs) have provided issuers more flexibility in their fundraising activities, further stimulating capital-raising activity. This shift and mounting appetite for capital-raising activity have partly offset other segments' decline. Overall, industry revenue is expected to nosedive at an annualised 5.8% to $556.4 million over the five years through 2025-26. Nevertheless, improved mortgage uptake and a widespread recovery in the housing market are anticipated to contribute to a 2.2% revenue rise in 2025-26. Stabilising macroeconomic conditions and easing inflation are forecast to improve economic and monetary policy certainty. This environment is likely to narrow valuation gaps between targets and acquirers, supporting a moderate uptick in M&A activity. Nonetheless, heightened recession concerns fuelled by recent US reciprocal tariffs are tempering investor sentiment, limiting the overall momentum for deals. New Zealand’s smaller market size and fewer opportunities on the NZX will continue driving domestic companies to list on larger exchanges like the ASX. While upcoming reforms – like the removal of the requirement to publish prospective financial information for NZX IPOs – may help stimulate the exchange's IPO pipeline, it's unlikely to match foreign markets’ capital appeal. Meanwhile, housing market policies like partially restoring interest deductibility for residential investment loans, shortening the bright-line test and increasing land availability are poised to reignite property transactions. That’s why revenue is projected to rise at an annualised 2.9% to $643.0 million through the end of 2030-31.

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.