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New Zealand median house prices (in NZ $) (1992=100)
May, 31, 2023
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 1992.
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
| Q1 | Q2 | Q3 | Q4 | |
| 2023 | -3.09 | |||
| 2022 | -2.81 | -6.1 | -6.56 | -4 |
| 2021 | 9.8 | -2.37 | -4.69 | 11.6 |
| 2020 | 4.92 | -3.45 | 7.11 | 7.62 |
| 2019 | 4.36 | -0.58 | 1.36 | 4.86 |
| 2018 | -4.11 | 5.24 | -1.59 | 0.62 |
| 2017 | 4.11 | -2.49 | -1.24 | 4.65 |
| 2016 | 6.27 | 0.59 | 2.66 | -0.22 |
| 2015 | 5.73 | -5.66 | 7.34 | -3.57 |
| 2014 | 2.7 | -3.2 | -1.97 | 7.32 |
| 2013 | 2.39 | -1.67 | 0.58 | 6.66 |
| 2012 | 3.69 | 0.2 | -0.52 | 5.03 |
| 2011 | 2.88 | -2.31 | -3.2 | 1.78 |
| 2010 | -0.23 | -2.4 | -1.78 | -1.73 |
| 2009 | 1.69 | 0.93 | 1.63 | 3.05 |
| 2008 | 0.48 | -4.14 | -4.38 | 0.01 |
| 2007 | 3.58 | 0.17 | 0.66 | -2.98 |
| 2006 | 1.77 | 1.11 | 0.27 | 5.64 |
| 2005 | 7.41 | 0.55 | 0.8 | 1.03 |
| 2004 | 4.66 | 0.44 | 2.24 | 3.09 |
| 2003 | 3.79 | 5 | 1.92 | 5.51 |
| 2002 | 3.4 | -2.15 | 0.08 | 3.12 |
| 2001 | 1.96 | 1.44 | -2.81 | 2.89 |
| 2000 | 2.23 | -3.52 | 0.39 | -2.86 |
| 1999 | 0.21 | 1.65 | -1.56 | -0.2 |
| 1998 | 0.27 | -0.9 | -0.54 | 3.26 |
| 1997 | 6.75 | -1.61 | 0.46 | 0.06 |
| 1996 | 7.08 | -7.11 | 4.89 | -0.09 |
| 1995 | -0.79 | 2.17 | 1.78 | 1.53 |
| 1994 | 2.46 | 1.2 | 2.71 | 0.7 |
| 1993 | 2.59 | -0.6 | 2.08 | 3.21 |
| 1992 | -1.39 | 0.34 | 1.55 |
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.