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.

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.

 

Updated 20 Aug 2018
 
Median

Median 3-br

--------------Rent ratio--------------
(see Notes below)
Population
House price
Yearly rent
Jul-18
Jun-18
Jul-17
Peak
% fall
 
Jul-18
Jul-18
Jun-18
 
       
 
 
 
 
 
 
 
 
 
NZ total 4,805,000
550,000
$21,840
25.2
25.6
24.9
26.8
-6%
   
 
 
 
 
 
 
 
Whangarei District             89,700
774,000
$21,580
35.9
35.9
37.2
44.6
-20%
   
 
 
 
 
 
 
 
Auckland metro         1,486,000
835,000
$27,500
30.4
31.3
32.3
34.2
-11%
 - North Shore City            225,800
985,000
$30,160
32.7
32.6
33.7
38.6
-15%
 - Waitakeres City            204,500
774,000
$27,560
28.1
28.6
28.5
32.1
-12%
 - Auckland City            444,100
892,000
$32,760
27.2
29.7
27.9
33.0
-18%
 - Manukau City            368,500
832,000
$27,560
30.2
29.4
30.3
32.9
-8%
   
 
 
 
 
 
 
 
Hamilton City            165,400
525,000
$21,840
24.0
25.6
25.5
26.5
-9%
   
 
 
 
 
 
 
 
Tauranga City            131,500
635,000
$23,920
26.5
26.2
24.3
29.3
-9%
   
 
 
 
 
 
 
 
Rotorua District             71,700
375,000
$17,680
21.2
22.9
19.6
22.9
-7%
   
 
 
 
 
 
 
 
Gisborne District             48,500
305,500
$16,120
19.0
18.7
17.3
24.0
-21%
   
 
 
 
 
 
 
 
Hastings District             62,000
460,000
$21,944
21.0
21.9
22.1
25.0
-16%
   
 
 
 
 
 
 
 
Napier City             79,900
419,500
$19,760
21.2
23.1
22.1
23.3
-9%
   
 
 
 
 
 
 
 
New Plymouth District             80,700
450,000
$19,760
22.8
20.3
19.5
22.8
0%
   
 
 
 
 
 
 
 
Whanganui District             44,500
230,000
$15,860
14.5
15.4
16.5
20.8
-30%
   
 
 
 
 
 
 
 
Palmerston North City             87,300
400,000
$18,720
21.4
20.7
20.4
23.5
-9%
   
 
 
 
 
 
 
 
Wellington metro            487,700
545,000
$25,409
21.4
24.8
21.7
25.0
-14%
 - Kapiti Coast District             52,700
535,000
$22,360
23.9
24.6
22.0
26.7
-11%
 - Porirua City             56,100
587,500
$22,100
26.6
22.9
20.9
29.4
-9%
 - Upper Hutt City             43,200
$474,150
$24,700
19.2
18.9
19.2
22.5
-15%
 - Lower Hutt City            104,700
530,000
$24,544
21.6
21.9
18.5
27.9
-23%
 - Wellington City            212,700
675,000
$32,240
20.9
21.8
21.4
24.6
-15%
   
 
 
 
 
 
 
 
Nelson City             51,400
547,000
$21,840
25.0
21.9
22.3
25.0
0%
   
 
 
 
 
 
 
 
Christchurch City            381,500
431,000
$21,840
19.7
19.7
20.2
21.9
-10%
   
 
 
 
 
 
 
 
Timaru District             47,100
360,000
$16,640
21.6
20.6
17.8
21.6
0%
   
 
 
 
 
 
 
 
Dunedin City            128,800
415,000
$20,280
20.5
20.0
20.3
20.6
-1%
   
 
 
 
 
 
 
 
Queenstown-Lakes District             37,100
1,053,799
$26,000
40.5
34.6
34.4
40.5
0%
   
 
 
 
 
 
 
 
Invercargill City             54,800
245,000
$14,560
16.8
17.1
16.3
21.6
-22%
                 

Disclaimer

IMPORTANT – PLEASE READ

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Contact:

For sources, definitions, and methodology, please contact:

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www.interest.co.nz
JDJL Limited
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Auckland, New Zealand

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