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As of 2019, the average house price in New Zealand exceeded NZ$700,000, with average prices in the country's largest city, Auckland, exceeding $1,000,000 in numerous suburbs. [33] The ratio between median house price and median annual household income increased from just over 3.0 in January 2002 to 6.27 in March 2017, with Auckland's figures 4. ...
The most expensive NZ home sale that year was also in Westmere, when Andrew Adamson sold his mansion to Anna Mowbray and Ali Williams for $24 million. [68] The suburb comprises about 1,700 homes and is a compact neighbourhood. [69] The median real estate sales price was $1.8 million in 2019, [70] increasing then falling to $2.4 million in 2023 ...
This is the lowest rate of home ownership since 1951. This is partly due to the increase in New Zealand house prices which since 1990 have increased faster than any other OECD country. [56] Housing in New Zealand has been classified as 'severely unaffordable' with a score of 6.5 under the median measure housing affordability measure. [57]
New Zealand's first shopping centre, LynnMall, has been serving Auckland's western suburbs since opening in 1963. The centre has continued to evolve and is undergoing redevelopment. LynnMall was acquired by Kiwi Property in early December 2010 from AMP Capital Property for $174 million. [ 22 ]
Herne Bay / h ɜːr n / is a suburb of Auckland, New Zealand. It is located on the southwestern shore of the Waitematā Harbour to the west of the Auckland Harbour Bridge. It is known for its extensive harbour views, marine villas and Edwardian age homes. Herne Bay has been a prosperous area since the 1850s due to its outlook over the Waitemata ...
In August 2022, the Real Estate Institute of New Zealand (REINZ) reported the median house price in the Auckland region was $1,100,000, ranging from $900,000 in the former Papakura District area to $1,285,000 in the former North Shore City area, This is compared to a median price of $700,000 outside of Auckland. [118]