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 average price of residential property in Auckland City, New Zealand, was the highest in the Auckland region in June 2025, with an average sale price of around *** million New Zealand dollars. In the same month, the regional median house price was around ******* 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 *** 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.