The average price of residential property in North Shore City, New Zealand, was the highest in the Auckland region in December 2024, with an average sale price of around 1.21 million New Zealand dollars. In the same month, the regional median house price was around one million New Zealand dollars across Auckland. Housing costs The average sale price of residential property in Auckland has fluctuated over the past months. While housing affordability has improved slightly as the median house price has begun to stabilize, Auckland still has one of the least affordable housing markets in the developed world. The average weekly rent in the city has been over 500 New Zealand dollars a week since 2016, with the Auckland region having one of the highest mean rents for residential housing across the country. Residential housing construction New Zealand's new residential dwelling consents hit a five-year low in 2024. The number of building consents granted for new homes in the Auckland region declined that same year, following a trend of year-on-year decreases since 2021. Nonetheless, a stronger pipeline of residential housing development is expected between late 2025 and 2029, hopefully providing some relief from the supply and demand imbalance.

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 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.

New Zealand NZ: Price to Income Ratio: sa data was reported at 119.398 2015=100 in Jun 2024. This records a decrease from the previous number of 121.104 2015=100 for Mar 2024. New Zealand NZ: Price to Income Ratio: sa data is updated quarterly, averaging 79.503 2015=100 from Mar 1986 (Median) to Jun 2024, with 154 observations. The data reached an all-time high of 143.278 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.

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 to -1.40 percent in February from -1.30 percent in January of 2025. This dataset includes a chart with historical data for New Zealand House Price Index YoY.

New Zealand NZ: Rent Price Index: sa data was reported at 135.092 2015=100 in Dec 2024. This records an increase from the previous number of 133.894 2015=100 for Sep 2024. New Zealand NZ: Rent Price Index: sa data is updated quarterly, averaging 60.758 2015=100 from Mar 1956 (Median) to Dec 2024, with 276 observations. The data reached an all-time high of 135.092 2015=100 in Dec 2024 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.

Herne Bay in Auckland was the most expensive residential housing suburb in New Zealand in 2023, with a median property value of over 3.1 million New Zealand dollars. In comparison, the median property value in the Flagstaff suburb of Hamilton came to around 1.07 million New Zealand dollars.

In the year ended November 2019, the average sales price of residential properties sold in Eastern Auckland Suburbs, New Zealand amounted to over 1.2 million New Zealand dollars. Auckland property prices have soared in recent years, with average sales prices continuing to increase across most districts.

In October 2020, the North Shore City district recorded the largest annual change in residential property sales in New Zealand, with an increase of 114.5 percent compared to the same month in the previous year. The annual change in average residential house prices in this district increased by 53.2 percent in the same period.

New Zealand's average farm sale prices showed significant regional variations in the three months to November 2024. The price of farm property in the country was the highest in the Nelson/Marlborough/Tasman region as of November 2024, with an average sale price of around 148,180 New Zealand dollars per hectare. In comparison, in the Auckland region, the average farm sales price came to just over 61,000 dollars per hectare. A farming nation The agriculture industry is a major economic pillar of the country. The contribution to the nation’s GDP is valued in the billions of New Zealand dollars. Horticulture, livestock, and dairying are all important segments, and the commodities produced within them are exported across the globe. While sheep livestock numbers have declined, they still make up a large share of the country’s livestock population. Horticultural farming While New Zealand exports various horticultural products, including wine grapes, potatoes, and apples, it is perhaps best known for its kiwi fruit. Accordingly, the land area dedicated to kiwi fruit farming has continued to increase over the years. New Zealand’s leading horticultural product export destinations include Asia, Europe, and Australia.

The average rent in the housing market in Southland, New Zealand was 460 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.

The average rent in the housing market in Taranaki, New Zealand was 550 New Zealand dollars per week as at 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.

The average rent in the housing market in Northland, New Zealand was 580 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.

As of September 2023, the average home deposit for first-time buyers who had to pay a 10 percent deposit in Auckland, New Zealand was 99 thousand Australian dollars. For buyers who had to pay a 20 percent deposit for a house in Auckland, the average was 198 thousand Australian dollars.

The average rent in the housing market in Marlborough, New Zealand was 555 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.

The average rent in the housing market in the West Coast, New Zealand was 465 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.

The average rent in the housing market in Waikato, New Zealand was 570 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.

The average rent in the housing market in Hawke's Bay, New Zealand was 630 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.