How Is The Auckland Property Market Going ... Right Now?

Here's an analysis of the Auckland property market and what suburbs have historically grown in value the fastest. Plus other crucial insights about the Auckland Property Market.

Last updated 10th September 2021

Auckland House Price Growth by Suburb

Where Do House Prices Grow the Fastest in the Auckland Property Market?

Which Auckland Suburbs Grow in Value The Fastest? This map lets you find out for yourself. Double click on the map below to zoom in and explore different suburbs.

Each area represents a different suburb, and the colour of the area represents how quickly house prices have increased over the past 20+ years.

The redder the area ... the quicker house prices have grown in that suburb.

Gross Yields of Auckland Suburbs

Which Auckland Suburbs Have the Highest Yields?

Auckland typically achieves a lower yield compared to other areas in the country. While the country's median gross yield is 3.26%, the median Auckland property achieves a gross yield of just 2.57%.

But, gross yields vary widely depending on which suburb you chose to investigate.

So, which suburbs in the Auckland property market have the highest gross rental yields?

Navigate the map to find the suburbs where houses produce the most cash for their investors.

Fastest Growing Suburbs

House Prices Increases Range From 4.55% - 9.25% Based on Suburb. But Which Were the Fastest?

The median house price in Auckland grew at 8.20% between Jan 2000 and June 2021 ($230,000 to $1,253,175).

However, house price growth varied widely in different suburbs.

Within that period, the median property in Westmere grew at 9.25% – the fastest in the Auckland region.

These houses grew in value from $350,400 to $2,346,900 – meaning that Westmere homeowners earned $1,996,500 within the period. That is almost $92,860 a year, which is higher than the median personal income.

The slowest growing suburb was Auckland Central, which grew at 4.55%, from $222,400 to $579,100. That's a total of $356,700 - just over $16,591 a year.

The other suburbs that grew the fastest were:

The suburbs that grew the slowest were:

Long Term House Prices

Auckland House Prices Have Increased By 9.74% Annually Over The Last 10 Years ...

The Auckland property market is so unique that when the Real Estate Institute of New Zealand (REINZ) publishes its monthly report, it includes a figure for all of New Zealand – excluding Auckland.

The median house price in the Auckland region is $1,253,175 (June 2021), $256,125 more than the next most expensive region, Wellington.

Auckland homeowners have done well over time. Between December 2015 and June 2021, the median Auckland house price grew by $468,175 (from $785,000 to $1,253,175). That's a 8.88% average annual increase.

That's not too far behind the 10 and a half year period (December 2011 - June 2021), where the median Auckland house price increased from $532,100 to $1,253,175. This is an 8.5% average annual growth rate.

Over the last 10 years, the national median house price increased by 11.81% annually (July 2011 - July 2021).

Short Term House Prices

Auckland's Median House Price is 1.38% below its long term average

On average, over the last 29 years, Auckland's median house price has been 140.23% of New Zealand’s median house price.

Assuming the long term fundamentals of either property market have not changed, Auckland's median house price should track back to this long term average.

That suggests that when Auckland's median house price is below its long term average, there is a buying opportunity. When Auckland's median house price is above its long term average, there are buying opportunities in other regions.

As of July 2021, Auckland's median house price over the last 12 months was 138.85% of New Zealand’s median house price. That is 1.38% below its long term ratio, which suggests that Auckland's house prices are roughly where they should be over the long term compared to other regions.

Demand For Housing

Demand for Auckland properties is increasing

Auckland is the fastest growing city in New Zealand. Between the year 2000 and 2019, Auckland welcomed over 350,000 additional residents to the city. That's the equivalent population of Christchurch.

This same number of residents are expected to move the city, but, over the next 9 years.

Over the next 20 years (2018-2038), Auckland's population is expected to grow by 30.75%, about 523,800 people.

The growing population adds demand to Auckland's property market, which is expected to have an upwards pressure on property prices.

Of all the regions, Auckland region has the highest forecasted population growth, both in percentage and absolute terms:

Auckland's Housing Supply

Housing Supply is Constrained

Auckland's geography

Auckland's central city was built on an isthmus – a narrow piece of land with seas on either side. This means that the city has limited land in the central city to build additional houses on.

While a city like Hamilton or Christchurch can expand in any direction (like a circle), Auckland can only expand north or south. High commute times and traffic make inner-city properties more attractive, which increases demand and pushes prices up.

City Council Debt
Auckland Council has a self-imposed debt ceiling of 275% of annual rates. They are currently nearing 270%. This means there is little room for the Auckland Council to borrow to fund new infrastructure. This limits green fields developments and constrains supply. The majority of the new houses for the additional 523,000 people will need to be within the city’s current limits.

Auckland City Suburb House Values

Auckland City Suburb House Values

Auckland City is made up of 55 suburbs. The most expensive suburb is Herne Bay, which has a median house price of $3,154,650. The most affordable suburb is Auckland Central, which has a median house price of $579,100.

Over the last 21 years of all Auckland City suburbs (Jan 2000 – Jun 2021), Westmere had the fastest-growing house, at 9.25% per year. That is 23.19% faster than the median Auckland house price.

The suburb that grew the slowest over that period was Auckland Central, which grew at a rate of 4.55% per year. That’s 39.37% slower than the median Auckland house price.

North Shore Suburb House Values

North Shore Suburb House Values

North Shore is made up of 40 suburbs. The most expensive suburb is Stanley Point, which has a median house price of $2,443,900. While the most affordable suburb is Birkdale, which has a median house price of $1,003,000.

Over the last 21 years of all North Shore suburbs (Jan 2000 – Jun 2021), Sunnynook had the fastest-growing house, at 8.20% per year. That is 9.27% faster than the median Auckland house price.

The suburb that grew the slowest over that period was Albany, which grew at a rate of 6.34% per year. That’s 15.57% slower than the median Auckland house price.

Manukau Suburb House Values

Manukau Suburb House Values

Manukau is made up of 44 suburbs. The most expensive suburb is Shamrock Park, which has a median house price of $2,086,800. While the most affordable suburb is Manukau, which has a median house price of $647,900.

Over the last 21 years of all Manukau suburbs (Jan 2000 – Jun 2021), Otara had the fastest-growing house, at 8.70% per year. That is 15.86% faster than the median Auckland house price.

The suburb that grew the slowest over that period was Goodwood Heights, which grew at a rate of 6.44% per year. That’s 14.28% slower than the median Auckland house price.

Waitakere Suburb House Values

Waitakere Suburb House Values

Waitakere is made up of 27 suburbs. The most expensive suburb is Herald Island, which has a median house price of $1,304,400. While the most affordable suburb is Ranui, which has a median house price of $885,050.

Over the last 21 years of all Waitakere suburbs (Jan 2000 – Jun 2021), Te Atatu Peninsula had the fastest-growing house, at 8.71% per year. That is 16% faster than the median Auckland house price.

The suburb that grew the slowest over that period was Hobsonville, which grew at a rate of 6.55% per year. That’s 12.73% slower than the median Auckland house price.

Papakura-Franklin Suburb House Values

Papakura-Franklin Suburb House Values

Papakura-Franklin is made up of 18 suburbs. The most expensive suburb is Clevedon, which has a median house price of $1,394,950. While the most affordable suburb is Orere Point, which has a median house price of $641,350.

Over the last 21 years of all Papakura-Franklin suburbs (Jan 2000 – Jun 2021), Papakura had the fastest-growing houses, at 7.19% per year. That is 4.28% slower than the median Auckland house price.

The suburb that grew the slowest over that period was Waiuku, which grew at a rate of 6.37% per year. That’s 20.29% slower than the median Auckland house price.

Rodney Suburb House Values

Rodney Suburb House Values

Rodney is made up of 29 suburbs. The most expensive suburb is Omaha, which has a median house price of $2,208,800. While the most affordable suburb is Wellsford, which has a median house price of $668,250.

Over the last 21 years of all Rodney suburbs (Jan 2000 – Jun 2021), Helensville had the fastest-growing house, at 7.50% per year. That is 0.14% slower than the median Auckland house price.

The suburb that grew the slowest over that period was Warkworth, which grew at a rate of 6.45% per year. That’s 17.98% slower than the median Auckland house price.

Other Property Markets

Other Property Markets to Pay Attention to

If you're considering investing in property, other property markets you might also want to look into are the Wellington property market, Christchurch property market, Hamilton property market and the wider NZ property market.