House Prices in Auckland

Upmarket House, New Zealand
Upmarket House, New Zealand

Average House Prices for Selected Auckland House Types 2015 – 2018

Property Typemid 2018mid 2017mid 2016mid 2015
House with 5+ bedrooms$1,335,650$1,396,300$1,294,850$1,136,830
House with 3 – 4 bedrooms$911,450$922,850$876,850$792,812
House with 1 – 2 bedrooms$659,500$686,700$641,550$588,050
Apartments$655,750$614,150$538,150$497,800
Townhouses$874,050$847,450$810,700$708,050
Units$615,050$621,300$591,900$517,850

Market Analysis

The prices in the table above are average asking prices taken over a 3 month period, sourced by Trade Me Property.

This method uses an “80% truncated mean” of the expected sale price. This method excludes the upper and lower 10% of listings by price, and then averages the expected sale prices of the remaining properties.

Head of Trade Me Property Nigel Jeffries said ““For the first time in a long time, buyers in the City of Sails are in a prime position as the rate of growth has finally eased with less competition and more stock on the market.”

According to the data from REINZ, Auckland median house prices have risen by over 1.4 percent in the last 12 months to August 2018.

Their August 2018 report noted that, “The Auckland median price increased edging over the $850,000 mark for the first time in 5 months. The OIA (Overseas Investment Amendment Bill) changes are still causing some confusion in the market but as we move closer to October this will likely be clearer for purchasers. We see that properties under $650,000 are selling quickly and anything priced $800,000 or under is also in strong demand depending on which suburb it is listed in. As always, location is paramount, and most suburbs have price ceilings to match the location, and we see that school zones are still critically important.”

In Barfoot and Thompson’s September 2018 update their average sales price for the month, at $929,757, was marginally higher than August’s, while the median price, at $835,000 was marginally lower.

Peter Thompson, Managing Director of Barfoot & Thompson said, “The number of property sales in September at 722 was modest, but vendors and buyers will take confidence in the stability of the prices achieved, and this will assist sales numbers as we advance into spring.

He continued, “The stand out feature of the month’s data was the high number of new listings, which at 1,709 was the second-highest ever for a September and more than 20 percent higher than at the same time last year. It is more than 42 percent higher than the monthly average for the previous three months.”

Average Sale Price in the Auckland Regions 2014 – 2018

Location12 months to Sept-1812 months to Sept-1712 months to Sept-1612 months to Sept-1512 months to Sept-14
Central Auckland$596,383$566,540$680,272$466,741$376,068
Central Suburbs$1,094,875$1,069,001$1,023,228$964,981$858,644
Eastern Suburbs$1,183,975$1,191,281$1,112,488$1,019,301$918,274
Franklin / Manukau Rural$692,790$817,263$722,699$626,182$575,084
North Shore $1,098,840$1,101,571$1,074,227$960,269$830,321
Pakuranga / Howick$1,078,966$1,099,961$1,041,581$920,661$897,658
Rodney$899,511$932,941$877,492$768,597$643,917
South Auckland$721,035$740,995$694,880$591,557$493,197
West Auckland$779,174$789,190$778,652$683,457$562,512

The prices in the table above are average sale prices sourced by Barfoot and Thompson over 12 month periods.

Auckland house prices from 2012 – 2017 are tabled on this page.

Return to the NZ House Prices page.

Comments

  1. Elliot Shayle says:

    Are most Auckland residences, apartments/flats, and what is the quality of them? By this I mean what size are they and what amenities and views do they have? Also what is the range of prices within each administrative region?

  2. No most auckland houses are stand alone 3 bedroom dwellings squeezed into someones backyard.

    There are allot of apartment options in the city centre, not much in the way of terraced houses

  3. It seems that there’s been a drop of 16.5% in the average house price in the Auckland region.
    Compare $1,044,000 in May 2017 to $895,500 in July 2018.
    https://www.stuff.co.nz/business/property/106396280/auckland-house-prices-slip-and-not-set-to-gain-traction-soon–trade-me

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