Housing Index in New Zealand increased to 2291 Points in October from 2287 Points in September of 2025. This dataset provides - New Zealand House Prices MoM Change - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The price of residential property in New Zealand was the highest in the Auckland region in October 2025, with an average sale price of over *** million 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 although the Auckland region experienced an annual increase in the average residential house price in October 2025 compared to the same month in the previous year. The price of residential property in Auckland was the highest in the Auckland 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.

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

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 has one 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 first quarter of 2025, the ratio was *****, a 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 2025, 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.

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 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.

Key information about House Prices Growth

• New Zealand house prices dropped 0.7% YoY in Jun 2025, following a decrease of 1.7% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Dec 1990 to Jun 2025, with an average growth rate of 0.0%.

Proprietary property trends data and analytics for Australia and NZ from Corelogic.

Average House Prices in New Zealand increased to 902020 NZD in October from 900521 NZD in September of 2025. This dataset includes a chart with historical data for New Zealand Average House Prices.

The real house price index in New Zealand in the fourth quarter of 2024 was *****, marking a decrease from the same quarter of the previous year. From the fourth quarter of 2019 to the fourth quarter of 2021, there was an upward trend of increasing house prices compared to the base year of 2015, with the first quarter of 2022 breaking this trend.

House Price Index YoY in New Zealand increased to 0 percent in October from -0.10 percent in September of 2025. This dataset includes a chart with historical data for New Zealand House Price Index YoY.

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.

Key information about New Zealand Gold Production

• New Zealand Real Residential Property Price Index was reported at 159.790 2010=100 in Jun 2025.
• This records a decrease from the previous number of 162.609 2010=100 for Mar 2025.
• New Zealand Real Residential Property Price Index data is updated quarterly, averaging 63.784 2010=100 from Mar 1970 to Jun 2025, with 222 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]

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.

New Zealand RBNZ Forecast: House Price Index: 1 Year Ahead data was reported at 3.850 % in Mar 2025. This records an increase from the previous number of 3.040 % for Dec 2024. New Zealand RBNZ Forecast: House Price Index: 1 Year Ahead data is updated quarterly, averaging 2.740 % from Sep 2017 (Median) to Mar 2025, with 31 observations. The data reached an all-time high of 8.020 % in Mar 2021 and a record low of -6.270 % in Mar 2023. New Zealand RBNZ Forecast: House Price Index: 1 Year Ahead 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.EB005: House Price Index: Quarterly.

New Zealand RBNZ Forecast: House Price Index: 2 Year Ahead data was reported at 4.560 % in Mar 2025. This records an increase from the previous number of 4.170 % for Dec 2024. New Zealand RBNZ Forecast: House Price Index: 2 Year Ahead data is updated quarterly, averaging 3.460 % from Sep 2017 (Median) to Mar 2025, with 31 observations. The data reached an all-time high of 6.220 % in Dec 2023 and a record low of 1.740 % in Jun 2022. New Zealand RBNZ Forecast: House Price Index: 2 Year Ahead 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.EB005: House Price Index: Quarterly.

The New Zealand facility management market is experiencing robust growth, driven by increasing urbanization, a burgeoning commercial sector, and a rising focus on operational efficiency across various industries. The market, valued at an estimated $X million (replace X with a logical estimate based on available data and typical market sizes for similar economies) in 2025, is projected to maintain a Compound Annual Growth Rate (CAGR) exceeding 2.50% through 2033. This expansion is fueled by several key factors. The increasing adoption of outsourced facility management services, particularly bundled and integrated FM solutions, reflects a broader trend towards specialization and cost optimization among businesses. Furthermore, the growing demand for both hard FM (e.g., building maintenance, repairs) and soft FM (e.g., catering, security) services contributes to overall market growth. The commercial and institutional sectors are the major end-users, accounting for a significant portion of the market share. However, the public/infrastructure and industrial sectors are also exhibiting considerable growth potential, driven by ongoing infrastructure projects and industrial expansion. While the market presents significant opportunities, certain challenges exist. Competition among established players and new entrants is intense, potentially impacting profit margins. Moreover, fluctuations in the construction and real estate sectors can indirectly influence market demand. Despite these headwinds, the long-term outlook remains positive, particularly for providers offering integrated and technologically advanced facility management solutions that leverage data analytics and automation to enhance efficiency and reduce costs. This trend towards sustainability and environmentally conscious practices within facility management is also driving growth as businesses seek to minimize their environmental footprint. Companies such as OCS New Zealand, Spotless, and Jones Lang LaSalle are key players in this dynamic market, continually adapting to meet evolving client needs and technological advancements. Recent developments include: April 2021 - Service Resources Ltd announced that BGIS had acquired the company, one of the global leaders in facility management, project delivery, energy and sustainability, asset management, workplace advisory, and real estate services., April 2021 - OCS Group (NZ) Ltd announced the acquisition of 1M, one of the leading commercial and infrastructure air conditioning mechanical services companies, that allows for an immediate and significant scale-up of its technical service capabilities.. Key drivers for this market are: Growing Construction Owing to Expansion by International Conglomerate, Growing Awareness of Energy Efficiency. Potential restraints include: Growing Construction Owing to Expansion by International Conglomerate, Growing Awareness of Energy Efficiency. Notable trends are: Auckland Accounts for Major Market Growth.

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 ******* New Zealand dollars per hectare. In comparison, in the Auckland region, the average farm sales price came to just over ****** 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.

We want Wellington to be a city where we have healthy, affordable homes in connected and lively neighbourhoods, close to the places we live, work and play. It is important that we provide for a variety of housing type, so that everyone has an opportunity to own or rent a quality home in the city.Since 2000 population growth in Wellington has outstripped the number of dwellings constructed and this trend is set to continue. We are already feeling the effects of high house prices and high rents; it is also increasingly difficult for first home buyers to purchase a home.Over the next 30 years we will need between 25,000 and 32,000 new dwellings to meet our projected growth demands. However, under current planning settings it is estimated the city will only have capacity for 20,000 dwellings over this time horizon, leaving a shortfall of between 5,000 and 12,000 dwellings.The Regional Housing and Business Capacity Assessment Report takes a 30-year look at Wellington’s urban District Councils (Wellington, Hutt City, Upper Hutt, Porirua, and Kapiti Coast) capacity for housing and business. The report estimates that based on predicted population growth across the five districts, and current development controls and patterns, the region faces a shortfall of approximately 9,000 to 21,000 dwellings. Without action, Wellington City will face a shortfall of between 4,600 and 12,000 dwellings by 2047.The Wellington City Residential Catchments have been created by grouping together areas of the city that form logical housing catchments i.e. the southern suburbs vs. the eastern suburbs. They represent clearer sub-markets of the city in which the demand and supply of different typologies can be contrasted at a more detailed level.The demand, capacity, and difference values in the dataset summarise the projected dwellings information of chapter 2, section 4 of the Wellington Regional Housing and Business Development Capacity report. It is recommended this section is reviewed while using this data.Wellington Regional Housing and Business Development Capacity - Chapter 2 - Wellington City Council is available on the Planning for Growth website: https://planningforgrowth.wellington.govt.nz/resources1/documentsFor more information contact the Planning for Growth team: planningforgrowth@wcc.govt.nz