New Zealand House Price Index / Quarterly (National)
New Zealand
Source: Reserve Bank of New Zealand
House prices in New Zealand, % change 1 yr
Nominal and inflation-adjusted ('real')
New Zealand
Source: Reserve Bank of New Zealand
Quarterly change in house prices, inflation-adjusted
| Q1 | Q2 | Q3 | Q4 | |
| 2025 | -0.98% | -1.64% | ||
| 2024 | -0.46% | -2.46% | -1.13% | 0.43% |
| 2023 | -4.12% | -2.02% | -0.14% | 1.28% |
| 2022 | -3.61% | -5.86% | -5.64% | -3.19% |
| 2021 | 8.75% | 2.09% | 3.68% | 4.32% |
| 2020 | 2.59% | -0.48% | 4.60% | 8.01% |
| 2019 | 0.26% | -0.90% | 1.18% | 2.16% |
| 2018 | 0.81% | -0.39% | -0.32% | 0.78% |
| 2017 | 0.53% | 0.17% | 0.64% | 1.00% |
| 2016 | 3.52% | 4.85% | 3.39% | 0.53% |
| 2015 | 3.28% | 2.95% | 4.20% | 1.24% |
| 2014 | 0.77% | 0.61% | 1.32% | 3.38% |
| 2013 | 1.92% | 2.06% | 2.21% | 0.98% |
| 2012 | 0.56% | 0.79% | 1.79% | 2.19% |
| 2011 | -0.58% | -0.61% | 1.08% | 0.55% |
| 2010 | -0.30% | -1.13% | -1.76% | -2.35% |
| 2009 | -1.14% | 1.17% | 0.90% | 2.27% |
| 2008 | -1.32% | -6.00% | -3.52% | -1.51% |
| 2007 | 3.79% | 1.76% | -0.10% | -0.83% |
| 2006 | 1.24% | -0.53% | 1.76% | 3.71% |
| 2005 | 4.43% | 1.99% | 1.90% | 3.21% |
| 2004 | 3.73% | 1.58% | 1.71% | 2.21% |
| 2003 | 4.74% | 3.44% | 7.20% | 5.84% |
| 2002 | 2.07% | 1.00% | 2.32% | 2.96% |
| 2001 | 0.77% | -1.00% | 0.29% | 1.13% |
| 2000 | -0.69% | -1.67% | -1.50% | -1.15% |
| 1999 | 1.87% | 0.39% | -0.26% | -0.34% |
| 1998 | -1.02% | -3.40% | -2.13% | 2.76% |
| 1997 | 2.64% | 0.77% | 0.11% | 0.72% |
| 1996 | 4.66% | 0.77% | -0.71% | 1.96% |
| 1995 | 0.07% | 2.20% | 3.09% |
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.
Yearly change in house prices, nominal and inflation-adjusted
| Year | Inflation Adjusted | Nominal Change |
| 2024 | -3.59% | -1.44% |
| 2023 | -5.00% | -0.57% |
| 2022 | -17.11% | -11.12% |
| 2021 | 20.09% | 27.23% |
| 2020 | 15.36% | 17.01% |
| 2019 | 2.70% | 4.61% |
| 2018 | 0.87% | 2.78% |
| 2017 | 2.36% | 3.99% |
| 2016 | 12.81% | 14.32% |
| 2015 | 12.17% | 12.26% |
| 2014 | 6.19% | 7.00% |
| 2013 | 7.35% | 9.10% |
| 2012 | 5.43% | 6.43% |
| 2011 | 0.43% | 2.29% |
| 2010 | -5.44% | -1.63% |
| 2009 | 3.21% | 5.23% |
| 2008 | -11.86% | -8.88% |
| 2007 | 4.64% | 7.97% |
| 2006 | 6.28% | 9.08% |
| 2005 | 12.02% | 15.56% |
| 2004 | 9.54% | 12.50% |
| 2003 | 22.93% | 24.84% |
| 2002 | 8.60% | 11.56% |
| 2001 | 1.18% | 3.01% |
| 2000 | -4.92% | -1.13% |
| 1999 | 1.66% | 2.17% |
| 1998 | -3.85% | -3.50% |
| 1997 | 4.28% | 5.15% |
| 1996 | 6.78% | 9.50% |
This table shows how house prices have changed over each year. It compares the latest quarter or month of a given year with the same period the year before, so you can quickly see whether prices went up or down over that year.
