The ratio between New Zealand house prices and rents | the 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.
|Population||House price||Rent||Jan-21||Dec-20||Jan-20||Peak||% Fall|
|- North Shore||225,800||1,255,000||$32,240||38.9||37.8||34.7||38.9||0%|
|- Auckland City||444,100||1,105,000||$35,100||31.5||35.4||27.4||35.4||-11%|
|- Kapiti Coast||52,700||860,000||$28,080||30.6||27.9||24.0||30.6||0%|
|- Upper Hutt||43,200||$549,150||$30,160||18.2||18.3||19.2||22.5||-19%|
|- Lower Hutt||104,700||800,000||$29,640||27.0||27.1||21.8||27.9||-3%|
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.
IMPORTANT – PLEASE READ
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For sources, definitions, and methodology, please contact:
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