Graph and download economic data for Real Residential Property Prices for New Zealand (QNZR368BIS) from Q2 1963 to Q1 2025 about New Zealand, residential, housing, real, and price.

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.

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.

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.

Housing Index in New Zealand decreased to 2287 Points in September from 2303 Points in August of 2025. This dataset provides - New Zealand House Prices MoM Change - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The rental, hiring, and real estate services industry in New Zealand recorded a gross domestic product (GDP) of around **** billion New Zealand dollars in the year ended March 2025. Across the reported period, the industry witnessed continuous year-on-year growth in its GDP.

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.

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]

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.

Market Size statistics on the Real Estate Services industry in New Zealand

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 -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.

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.

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.

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

The Land Development and Subdivision industry is crucial in the building process. Developers subdivide land into sections (blocks of land) in preparation for building construction and oversee the installation of infrastructure, including roads, street lighting and footpaths, arranging appropriate zoning permits and ensuring access to utilities like water, sewerage, gas and electricity. Much of the industry's revenue is generated from residential land development and this market is highly exposed to wide fluctuations in land prices and the volume of sales. The industry's performance peaked in 2020-21, preceded a slump in residential building activity in response to a mortgage interest rate hike and tighter bank lending practices. Weak single-unit house construction dampened the development of residential subdivisions and individual house lots, the cornerstone for most of the industry's small-scale developers. Still, robust investment in the non-residential property markets has generated opportunities for larger developers with track records working on higher-density urban land projects and extensive industrial land developments on the metropolitan fringe. Prominent developers, like The Neil Group and Todd Property, leverage their proven capacity to deliver complex commercial land developments while navigating the zoning and permits processes with local authorities. Over the five years through 2025-26, industry revenue is expected to contract at an annualised 5.6%, falling to $4.9 billion in response to the slump in investment in residential land developments. The revenue performance will continue to deteriorate marginally during 2025-26, falling by 0.5% despite some upswing in new housing investment, reflecting the need for developers to sell their existing vacant lots before embarking on new projects. Industry profit margins have narrowed as fierce price competition accompanied the slump in demand for residential land development and the excess supply of vacant lots. Going forwards, there is little scope for expansion in developing low-density residential subdivisions. Rising land prices and the push for affordable housing will focus the residential market towards constructing apartments and townhouses. Larger-scale developers will benefit from the growth in multi-unit dwelling construction and solid investment trends in the non-residential building markets. The increased demand for developing medium-to-high-density residential and commercial land will marginally outweigh the subdued trend in single-unit house construction. Over the five years through 2030-31, industry revenue is forecast to grow at an annualised 0.8% to reach $5.1 billion.

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 Mexico Commercial Real Estate market, valued at $53.60 billion in 2025, exhibits robust growth potential, projected to expand at a Compound Annual Growth Rate (CAGR) of 7.23% from 2025 to 2033. This expansion is fueled by several key drivers. Mexico's burgeoning economy, particularly in sectors like manufacturing and tourism, is creating significant demand for office, retail, and logistics spaces. Furthermore, increasing urbanization and a growing middle class are driving demand for multi-family residential and hospitality properties. Infrastructure development initiatives by the Mexican government are further bolstering the sector. However, challenges remain, including potential economic volatility and regulatory hurdles that could impact investment decisions. Competition within the sector is intense, with both established international players like Hines and Savills Mexico, and dynamic domestic companies such as Grupo Sordo Madaleno and Grupo Posadas, vying for market share. The market is segmented across various property types: offices, retail, industrial, logistics, multi-family residential, and hospitality, each with its unique growth trajectory and influencing factors. Emerging technology, such as PropTech platforms like Flat and Reonomy, are also transforming the sector, improving efficiency and transparency in transactions. The forecast period of 2025-2033 promises continued growth, driven by ongoing economic development and targeted infrastructure improvements. However, prudent risk management and adaptation to evolving market conditions are crucial for companies operating within the Mexican commercial real estate landscape. The diverse range of companies involved, from large international developers to innovative startups, indicates a dynamic and competitive environment with ample opportunity for strategic players. Sustained growth hinges on managing factors like inflation, interest rates, and ensuring alignment with government policies to navigate challenges and capitalize on the expansive opportunities presented by Mexico's evolving economic landscape. Recent developments include: • June 2023: Prologis, Inc. and Blackstone announced a definitive agreement for Prologis to acquire nearly 14 million square feet of industrial properties from opportunistic real estate funds affiliated with Blackstone for USD 3.1 billion, funded by cash., • April 2023: Colliers announced it has acquired a controlling interest in Greenstone Group Ltd (“Greenstone”), a leading New Zealand project management and property advisory firm. The Greenstone senior leadership team will remain significant shareholders of the business under Colliers’ unique partnership model. Greenstone offers project management and property advisory services to a diverse range of end markets, including commercial and residential developers and the government, education, and infrastructure sectors. Greenstone’s professional services are delivered by more than 55 professionals across four offices in New Zealand., . Key drivers for this market are: 4., Increasing foreign investments driving the market4.; Increasing urbanization driving the market. Potential restraints include: 4., Increasing foreign investments driving the market4.; Increasing urbanization driving the market. Notable trends are: The Offices Segment is Occupying the Significant Market Share in the Market.

As of financial year 2023, the value of the foreign direct investment in real estate of New Zealand accounted for around 292.42 million New Zealand dollars. The foreign investment in the sector fluctuated over the observed period, but experienced a peak in financial year 2014 with an investment of roughly 1.26 billion New Zealand dollars in the sector.

Wide cyclical fluctuation has characterised the performance of the Multi-Unit Apartment and Townhouse Construction industry over the five years through 2024-25. Despite these ups and downs, overall revenue has remained stagnant over the period, at a total of $2.7 billion. Industry revenue peaked at a record $3.7 billion in 2021-22 and has plummeted in recent years, corresponding with the sharp correction in the number of multi-unit dwelling consents issued. The anticipated decline in industry revenue by 6.5% in 2024-25 reflects the recent hike in mortgage interest rates and the winding back of government first-home buyer stimulus. Industry profitability has climbed marginally despite contracting from the 2021-22 peak, while industry participation has maintained an upwards trend as new entrants strike out in business. The shift in dwelling construction away from traditional single-unit houses and towards higher-density apartments and townhouses has underpinned the industry’s long-term performance. This partly stems from the escalation in land prices pushing investors into medium-to-high-density alternatives but also reflects the growing preferences for urban lifestyles in close proximity to transport, nightlife and other inner-city amenities. Prior to the current slump in multi-unit dwelling construction, builders enjoyed robust growth across the residential building market, corresponding with historically low interest rates, strong population growth and generous first-home buyer subsidies. The escalation in residential property prices encouraged buyers to opt for lower-cost alternatives, and the number of multi-unit dwelling consents surged to 58.1% of all consents issued in 2022-23, double the level in 2015-16 and representing accelerated long-term growth. The higher housing costs forced many New Zealanders to rent rather than buy, encouraging property developers to invest in apartments and townhouses. The Multi-Unit Apartment and Townhouse Construction industry’s performance is set to recover solidly through 2029-30, underpinned by mounting population pressures and some easing in mortgage interest rates. Investment in multi-unit dwelling construction will also be supported by the reinstatement of property tax deductions, the relaxation of tenancy laws and growing opportunities under the build-to-rent (BTR) funding model. The winding back of first-home buyer subsidies will be partly offset by the Central Government’s (Te Kawanatanga o Aotearoa) direct funding of social housing projects. Still, more households may be forced to remain in the rental market. Industry revenue is forecast to climb at an annualised 5.6 % through 2029-30 to $3.6 billion, driving higher profitability and attracting increased participation.