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||Mar-21||Feb-21||Mar-20||Peak||% Fall|
|- North Shore||225,800||1,350,000||$33,540||40.3||38.8||33.8||40.3||0%|
|- Auckland City||444,100||1,385,000||$36,140||38.3||36.0||32.3||38.3||0%|
|- Kapiti Coast||57,000||880,000||$27,040||32.5||28.1||26.0||32.5||0%|
|- Upper Hutt||47,100||$554,150||$30,680||18.1||17.3||18.7||22.5||-20%|
|- Lower Hutt||111,800||801,000||$31,200||25.7||25.6||22.9||29.0||-12%|
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:
David Chaston, Publisher
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