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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. ...
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]
After soaring 30% in just the past 12 months, the most among OECD nations, home prices were forecast to jump another 20% this year, according to a Reuters poll of 10 property market analysts taken ...
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. [124]
The New Zealand government has passed a ban on foreigners buying existing homes in the country in a bid to tackle soaring prices and rising homelessness.
Since 2009, house prices in Wellington have increased significantly. In May 2021, the Real Estate Institute of New Zealand (REINZ) reported the median house price was $1,057,000 in Wellington City, $930,000 in Porirua, $873,500 in Lower Hutt and $828,000 in Upper Hutt, compared to a national median house price of $820,000. [119]
Lynmore is a suburb of Rotorua in the Bay of Plenty Region of New Zealand's North Island. In April 2018, Lynmore had the highest house prices in Rotorua. [3] Marae
This is a list of statistical areas in New Zealand, as defined by Statistics New Zealand in the statistical area 2 (SA2) and statistical area 3 (SA3) boundaries set out in the Statistical standard for geographic areas 2023.