New Zealand · Oceania · Population: 1,700,000
Auckland is a challenging market for first-time buyers, with a slight cooling in the housing market. The city has above-average rental costs. At $620,000 average home price in New Zealand, buyers should consider the 10.8x price-to-income ratio when planning a purchase.
| Average Home Price | $620,000 |
| Price per sqm | $7,800 |
| Price-to-Income Ratio | 10.8x |
| Mortgage Rate | 6.8% |
| 1-Year Price Change | -2.5% |
| 1-Bedroom Apartment | $1,800/mo |
| 3-Bedroom Apartment | $2,800/mo |
| Rent-to-Income Ratio | 32% |
| Median Household Income | $57,000/year |
| Years to Buy (at median income) | 10.8 years |
| Local Currency | NZD |
With a price-to-income ratio of 10.8x, Auckland requires significant savings to purchase property. At a mortgage rate of 6.8%, monthly payments could consume a large share of income. Home prices have decreased 2.5% in the past year.
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Our team analyzes data from OECD, Numbeo & National Statistics to deliver accurate, up-to-date information. All data is verified and cross-referenced with official sources.
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