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 906977 NZD in August from 909671 NZD in July of 2025. This dataset includes a chart with historical data for New Zealand Average House Prices.

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 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.

Graph and download economic data for Real Residential Property Prices for New Zealand (QNZR628BIS) from Q2 1962 to Q1 2025 about New Zealand, residential, HPI, housing, real, price index, indexes, and price.

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.

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.

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.

Residential Property Prices in New Zealand decreased 2.02 percent in March of 2025 over the same month in the previous year. This dataset includes a chart with historical data for New Zealand Residential Property Prices.

House Price Index YoY in New Zealand increased to 0.20 percent in August from 0 percent in July of 2025. This dataset includes a chart with historical data for New Zealand House Price Index YoY.

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.

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 House Price Inflation: Net Percent Expecting data was reported at 72.100 % in Mar 2025. This records an increase from the previous number of 47.600 % for Dec 2024. New Zealand House Price Inflation: Net Percent Expecting data is updated quarterly, averaging 72.100 % from Mar 2022 (Median) to Mar 2025, with 13 observations. The data reached an all-time high of 91.400 % in Mar 2022 and a record low of 47.600 % in Dec 2024. New Zealand House Price Inflation: Net Percent Expecting 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.

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.

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.

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

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.

Denmark Property Price: Flat: Capital Region: North Zealand (NZ) data was reported at 23,524.000 DKK/sq m in Mar 2018. This records an increase from the previous number of 22,331.000 DKK/sq m for Dec 2017. Denmark Property Price: Flat: Capital Region: North Zealand (NZ) data is updated quarterly, averaging 16,554.000 DKK/sq m from Mar 1992 (Median) to Mar 2018, with 105 observations. The data reached an all-time high of 25,881.000 DKK/sq m in Sep 2006 and a record low of 5,587.000 DKK/sq m in Dec 1992. Denmark Property Price: Flat: 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.

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.

Real residential property prices Y-on-Y, percent change in New Zealand, March, 2025 The most recent value is -4.44 percent as of Q1 2025, a decline compared to the previous value of -3.73 percent. Historically, the average for New Zealand from Q1 1990 to Q1 2025 is 3.75 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