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Financial Overview Property in New Zealand
  • Overview
  • House Prices
  • Market in Depth
  • Rental Yields
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  • Income Tax et al
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  • Taxes if Resident
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Where to Buy
  • Survey of New Zealand
  • Auckland
  • Canterbury
  • Marlborough
  • Wellington
  • West Coast
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  • Accountants
  • Lawyers
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  • Mortgages

New Zealand

  1. Home
  2. Pacific
  3. New Zealand
  4. Home Price Trends

New Zealand Home Prices, Graphed as Time-Series

More NZ

New Zealand

Financial Overview: Property in New Zealand

  • Overview
  • House Prices
  • Market in Depth
  • Rental Yields
  • Income Tax et al
  • Tax Example
  • Taxes if Resident
  • Buying Guide
  • Landlord and Tenant
  • Property Inheritance
  • Country Statistics
  • Property Investments

Where to Buy

  • Survey of New Zealand
  • Auckland
  • Canterbury
  • Marlborough
  • Wellington
  • West Coast

Key Contacts

  • Accountants
  • Lawyers
  • Real Estate Agents
  • Mortgages

New Zealand median house prices (in NZ $)

May, 29, 2022

New Zealand

REINZ

House prices in New Zealand. We use the The Real Estate Institute of New Zealand (REINZ) housing statistics. The Reserve Bank of New Zealand (RBNZ) also publishes Quotable Value Limited’s house price time-series of all residential properties in New Zealand starting in Q4 1989. Data before that calculated by RBNZ stretch back to Q4 1979.

House prices in New Zealand, % change 1 yr

Nominal and inflation-adjusted ('real')

New Zealand

Source: Real Estate Institute of New Zealand


Quarterly change in house prices, inflation-adjusted

 Q1Q2Q3Q4
2022-3.34
20219.8-1.89-5.1612.22
20204.92-3.457.117.62
20194.36-0.581.364.86
2018-4.115.24-1.590.62
20174.11-2.49-1.244.65
20166.270.592.66-0.22
20155.73-5.667.34-3.57
20142.7-3.2-1.977.32
20132.39-1.670.586.66
20123.690.2-0.525.03
20112.88-2.31-3.21.78
2010-0.23-2.4-1.78-1.73
20091.690.931.633.05
20080.48-4.14-4.380.01
20073.580.170.66-2.98
20061.771.110.275.64
20057.410.550.81.03
20044.660.442.243.09
20033.7951.925.51
20023.4-2.150.083.12
20011.961.44-2.812.89
20002.23-3.520.39-2.86
19990.211.65-1.56-0.2
19980.27-0.9-0.543.26
19976.75-1.610.460.06
19967.08-7.114.89-0.09
1995-0.792.171.781.53
19942.461.22.710.7
19932.59-0.62.083.21
1992-1.390.341.55

This table shows the change in house prices during a single quarter, adjusted for inflation.

Adjusting house price rises (or declines) for inflation produces a more accurate picture of the change in value of housing than the usual nominal figures cited in the newspapers.


House prices in New Zealand compared to the rest of the continent

  • House price per sq.m.
  • Change in house prices, 1 year
  • Change in house prices, 5 years
  • Change in house prices, 10 years
  • Price / Rent ratio
  • Price / GDP per capita, national

Your Guide to House Price Statistics
  • Adjusting for inflation

    Most agents overstate the upward movement in house prices. That's because their house price figures are nominal, i.e., not adjusted for inflation. If house prices have risen by 5% during the past year, but inflation has been 5%, the real increase in the value of the house has been zero.

    That's why our graphs show house price changes both nominal and real.

    Nominal house price changes = the figures published by most official statistical sources.

    Real house price changes = house price changes after adjusting for inflation.

  • House price statistics elsewhere

    We generally use Central Bank or National Statistical Institute data. But occasionally, we use data generated by realtors.

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