The ratio between New Zealand house prices and rents | the Rent Ratio

Rent ratio

The data on this page relates the median house price to the annual house rent. It is a benchmark that is used internationally in the reviews of housing affordability, and is just one of a number of measures that can monitor this. For comparisons to US housing markets, see this NY Times review. The market peak referred in the following table differs for each city/district reviewed, and is specific for that city.

 

Updated 15 Mar 2016
 
Median

Median 3-br

--------------Rent ratio--------------
(see Notes below)
Population
House price
Yearly rent
Mar-16
Feb-16
Mar-15
Peak
% fall
 
Mar-16
Mar-16
Mar-16
 
       
 
 
 
 
 
 
 
 
 
NZ total         4,590,000
$495,000
$20,800
23.80
22.8
25.4
25.9
-8%
 
 
 
 
 
 
 
 
 
Whangarei District
80,500
$342,500
$17,940
19.09
18.8
17.7
23.0
-17%
 
 
 
 
 
 
 
 
 
Auckland metro
1,486,000
$820,000
$26,378
31.09
30.4
29.5
33.1
-6%
- North Shore  
$974,230
$28,600
34.06
32.8
31.0
34.1
0%
- West  
$734,064
$24,440
30.04
27.7
27.6
32.4
-7%
- Auckland  
$995,850
$31,200
31.92
27.4
29.5
31.9
0%
- South  
$754,585
$22,360
33.75
28.6
28.6
33.7
0%
 
 
 
 
 
 
 
 
 
Hamilton
145,600
$472,000
$19,240
24.53
22.2
19.2
24.5
0%
 
 
 
 
 
 
 
 
 
Tauranga
115,700
$511,500
$21,840
23.42
22.3
22.2
26.0
-10%
 
 
 
 
 
 
 
 
 
Rotorua
68,900
$270,000
$15,600
17.31
18.5
18.0
21.9
-21%
 
 
 
 
 
 
 
 
 
Gisborne
46,600
$232,500
$14,300
16.26
14.5
15.5
26.4
-38%
 
 
 
 
 
 
 
 
 
Napier
57,800
$337,000
$18,200
18.52
19.0
16.5
21.7
-15%
 
 
 
 
 
 
 
 
 
Hastings
75,500
$322,500
$16,640
19.38
19.4
17.3
21.5
-10%
 
 
 
 
 
 
 
 
 
New Plymouth
73,800
$357,050
$18,200
19.62
22.4
19.2
23.6
-17%
 
 
 
 
 
 
 
 
 
Wanganui
43,500
$172,500
$12,480
13.82
12.0
13.2
20.2
-31%
 
 
 
 
 
 
 
 
 
Palmerston North
82,100
$285,000
$16,640
17.13
17.7
18.3
24.2
-29%
 
 
 
 
 
 
 
 
 
Wellington metro
487,700
$459,000
$22,985
19.97
20.8
20.3
23.5
-15%
- Kapiti Coast District
48,900
$392,900
$19,760
19.88
19.1
19.9
25.1
-21%
- Porirua City
52,700
$470,000
$18,824
24.97
23.2
22.7
28.2
-12%
- Upper Hutt City
41,500
$375,000
$20,384
18.40
17.6
16.9
22.8
-19%
- Lower Hutt City
103,000
$437,000
$20,280
21.55
20.7
18.6
22.9
-6%
- Wellington City
200,100
$564,573
$28,600
19.74
20.9
20.9
24.6
-20%
 
 
 
 
 
 
 
 
 
Nelson
46,200
$405,500
$20,020
20.25
21.8
19.4
24.1
-16%
 
 
 
 
 
 
 
 
 
Christchurch
367,700
$468,185
$22,360
20.94
20.5
19.6
22.7
-8%
 
 
 
 
 
 
 
 
 
Timaru
44,700
$312,000
$18,044
17.29
18.7
17.3
22.1
-22%
 
 
 
 
 
 
 
 
 
Dunedin
126,000
$305,000
$15,600
19.55
19.9
17.9
20.0
-2%
 
 
 
 
 
 
 
 
 
Queenstown-Lakes
28,700
$815,000
$28,600
28.50
27.6
25.6
35.2
-19%
 
 
 
 
 
 
 
 
 
Invercargill
53,000
$212,000
$12,480
16.99
17.5
14.9
22.3
-24%
                 

Median house price:

Median house prices are as reported by the Real Estate Institute of New Zealand. Although the REINZ series is more volatile than the QV equivalent, there is a highly positive correlation between the two series. The REINZ series is more current and offers an earlier indication of market trends.

Rent: 

The median rent is as sourced from the Department of Housing and Building (DBH) and their Tenancy Bond database.

Disclaimer

IMPORTANT – PLEASE READ

No reader should rely on the contents of this report for making a specific investment or purchase decision. The information in this report is supplied strictly on the basis that only overall market trends are being reported on, and that all data, conclusions and opinions expressed are provisional and subject to revision. If you are making a specific investment or purchase decision, you are strongly advised to seek independent advice from a qualified professional you trust. The conditions and disclaimers set out at www.interest.co.nz/legaldisclaimer.asp are applicable to this report as well.

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Contact:

For sources, definitions, and methodology, please contact:

David Chaston, Publisher
www.interest.co.nz
JDJL Limited
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PO Box 47-756, Ponsonby
Auckland, New Zealand

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1 Comments

The rent ratio is a way to high in Mauritius. The Mauritius is a beautiful island nation with exotic beaches. You should book a Mauritius tour package and book or rent a property.