Property Market
Auckland house prices | How is the Auckland property market going?
Gain insights into Auckland's property market with updated statistics on house prices, rental trends, and investment opportunities.
Property Market
1 min read
Author: Ed McKnight
Our Resident Economist, with a GradDipEcon and over five years at Opes Partners, is a trusted contributor to NZ Property Investor, Informed Investor, Stuff, Business Desk, and OneRoof.
Reviewed by: Laine Moger
Journalist and Property Educator, holds a Bachelor of Communication (Honours) from Massey University.
The average house price in New Zealand is $927,284 as at Jun 2024. Over the last 12 months this has increased by 1.87%.
Want to see the most recent numbers for your specific council area? You can find the data for every single part of New Zealand in the table below. These numbers are updated every month.
If you want a broader view of house prices around New Zealand, keep reading below. You’ll learn where the most and least expensive houses are and how the data is calculated.
If you have a question, write your questions or thoughts in the comments section below.
The average house price in NZ is currently $927,284 as at June 2024. This is up from the $910,221 12 months ago.
That means that house prices are up $17,063 over that time.
If you’re looking to buy one of the cheapest houses in the country you need to go to the West Coast region.
The cheapest house prices in New Zealand are located there according to June 2024 data.
The 3 cheapest districts across New Zealand are:
At the other end of the scale, the 3 most expensive areas have average house prices in the 7 figures. The 3 most expensive areas are:
If you Google “average house price” you will find the figures differ slightly, depending on who you talk to.
Why? It’s all down to the data used.
For instance, the data for this article was taken from CoreLogic, and the prices shown will be slightly different from other sources, for example QV and REINZ.
There are a few reasons for this and it comes down to how the data is calculated.
For starters CoreLogic creates its average by:
QV follows a similar process, but their algorithm is different to CoreLogic’s, so the numbers shown will be slightly different.
For instance, CoreLogic data says the average house price in New Zealand in June 2024 was $927,284; QV latest data says the average house price is $.
Same area, same method for crunching the data, but an $927,284 difference.
Next is REINZ, which is another very popular data source. They calculate their data by:
This is different from CoreLogic and QV because:
The effect of this is that REINZ median sale prices are more volatile (there will be more variation month to month).
REINZ reported median sale prices are also typically lower than CoreLogic and QV’s data.
For example, while CoreLogic and QV said New Zealand’s average price was $927,284 and $, REINZ put the median sale price at $781,000.
All are right, but there is a $927,284 difference between what CoreLogic and QV say what the average house price is.
This is important to bear in mind as you are using different sources to figure out the average price for an area.
Our Resident Economist, with a GradDipEcon and over five years at Opes Partners, is a trusted contributor to NZ Property Investor, Informed Investor, Stuff, Business Desk, and OneRoof.
Ed, our Resident Economist, is equipped with a GradDipEcon, a GradCertStratMgmt, BMus, and over five years of experience as Opes Partners' economist. His expertise in economics has led him to contribute articles to reputable publications like NZ Property Investor, Informed Investor, OneRoof, Stuff, and Business Desk. You might have also seen him share his insights on television programs such as The Project and Breakfast.