Our guide looks at the current property market and house prices in New Zealand including towns on both the North and South Islands including Auckland, Wellington, Hamilton, Christchurch and Dunedin.
There is no denying the spectacular scenery that attracts many people to New Zealand. The housing market in New Zealand can be something of a worry for those who are considering making the move from the UK.
New Zealand has gained something of a reputation when it comes to housing, with sky high prices being seen in areas such as central Auckland. This is however not just an issue in New Zealand; relatively few Brits are in a position to purchase property in central London either.
If you want to find affordable housing in Auckland, then you don’t have to venture far from the city centre and should another area of New Zealand be your dream destination then you will find that house prices are on the whole slightly better than those in the UK. In fact, it would be fair to say that in the last few years the outlook for the property market in New Zealand has seen some positive changes; house prices might be increasing in the UK but in New Zealand, they are falling and that means that UK migrants looking to move in the near future should be able to get more for their money.
In July 2022, New Zealand property prices dropped for the first time in 11 years. According to the Real Estate Institute’s price index prices fell 2.9 per cent from a year earlier and most experts predict further declines over the next year.
The New Zealand skilled migration programme is now opening up again following temporary closure during the Covid pandemic, so the timing could be just right to consider that move.
In this guide we want to take a conservative look at the housing market in New Zealand as it currently stands, and see what kind of property the average UK house price might buy.
There are a couple of things you should take into consideration. The first is that if you have a higher value property to sell in the UK then it is certainly worth looking around as you may well be able to buy a larger property than those we have picked as examples.
There are a variety of housing options to consider in New Zealand, so whether you prefer an apartment, a townhouse in one of the country’s stunning cities or a large family home with a good sized garden then you are sure to be able to find your dream home, and there is a good chance it will come with stunning views.
Remember that availability, property prices and of course, exchange rates will fluctuate. The properties we have shown in our guide are an illustration of the type of houses that are available. For more up to date prices and house searches tailored to your needs check out some of the New Zealand property websites.
- The New Zealand Property Market in 2022
- The PSS Property Guide to New Zealand’s North Island for UK Buyers
- House Prices in Auckland
- House Prices in Wellington
- House Prices in Hamilton, Waikato
- House Prices in Tauranga, Bay of Plenty
- The PSS Property Guide to New Zealand’s South Island for UK Buyers
- House Prices in Queenstown, Central Otago
- House Prices in Dunedin, Otago
- House Prices in Nelson
- Got plenty of money?
- Where in New Zealand will you move to?
- Moving and shipping to New Zealand
The New Zealand Property Market in 2022
According to the latest property figures (July 2022) from Reinz, the national average price for a house in NZ is NZ$810,000 (£428,952). The average property price in Auckland has decreased by 5.6%, with properties elsewhere increasing in median value. However, New Zealand’s house property prices are predicted to drop by 20% according to two of the biggest banks. This is good news for expats who are looking to move to New Zealand in the next couple of years.
The PSS Property Guide to New Zealand’s North Island for UK Buyers
If you are looking to move to New Zealand we have chosen a range of properties around the NZ$500,000 to $850,000 range (that’s roughly £258,000 to £437,316), of course, if you have more money to play with then you will be able to look at even nicer.
As a starting point we have chosen three properties in the price range for each area, one close to the city centre and two in the suburbs so you can see what your money might buy if you want the convenience of city living or prefer a little more property for your money.
House Prices in Auckland
If you are looking at housing in the top end of New Zealand, then Auckland is probably your city of choice. Housing prices here are at a premium with the median house price in Auckland being at $1,125,000. However, if you look at smaller properties, you will still have access to all of the amenities you would expect in a thriving metropolitan city.
City Centre Apartment, Auckland Central NZ$539,000 (£278,360)
In Auckland Central, a suburb of Auckland itself, the price range we are looking at will buy you a well-appointed apartment with 2 bedrooms and 1 bathroom; careful searching of the property market should also find something in this price range that provides you with parking for 1 car.
You should expect smaller room sizes here, however, more centrally located apartments do have the benefit of a small balcony, with great views. As most of these apartment buildings are on the newer side, they are well decorated to a good standard. They are also within close proximity of plenty of local amenities.
Semi-detached home in Auckland Suburb of Pukekohe NZ$595K (£307,284)
A little bit farther from the hustle and bustle of Auckland itself is the suburb of Pukekohe where you may find houses rather than apartments on the market. At 80 square metres, it comes with 2 bedrooms, 1 bathroom, courtyard space both front and rear of the property and a garage
The local shops and transport are conveniently close by. It is also located in a highly desirable area when it comes to local schools. This is a good investment choice for those looking to get their foot on the local property ladder.
3 Bedroom House in Auckland Suburb of Henderson, Waitakere City NZ$795,000 (£409,561)
If you are looking for affordable family homes, Waitakere City in Henderson is a great location for you. This property has 3 bedrooms, a lovely garden, and space for the family. The garden is perfect for family barbeques, and the rooms are spacious.
This 107 square meter property is close to entertainment such as parks & reserves and has good public transport links. For $795,000 it is a good value property for those looking for a good family home in an urban location.
House Prices in Wellington
Wellington benefits from a strong employment market and the housing here is more affordable when compared to Auckland. The median house price for a property in Wellington is $895,200. This is a great location for first-home buyers and those looking to make the move to New Zealand.
Apartment, Kelburn, Wellington City, offers over NZ$525,000 (£271,133)
The fringe of Wellington offers a range of affordable housing in the form of apartments like this one. At 60 square metres, this is a small but highly sought-after property in a great area of the city. It has 2 double bedrooms and a family bathroom as well as off-road parking. Public transport links can be found just across the road, and it is very close to the local amenities.
It is worth noting that it is quite common for properties of this nature to be put on the market with no fixed price but inviting offers over an indicated amount. These properties are highly sought after and whilst it is entirely possible you could pick up a bargain, you may need to be prepared to put a little more money in the pot to secure a prime property of this nature.
Detached House, Masterton, Wellington City, offers over NZ$539,500 (£278,621)
There are currently a surprising number of freestanding homes in the suburbs of Wellington, and whilst they do fall into our price range of NZ$500-$600, they are on the market for offers over a set price
However, they do give a very good indication of what you might be able to buy for this price range like this standalone property with three bedrooms, a bathroom and shower, good sized outdoor space with landscaping and great locations near local amenities and schools
Whilst putting an offer in on this type of property may be daunting, it is undoubtedly worth it and may be worth upping your budget a little if possible.
Woodridge, Wellington NZ $795,000 (£413,400)
This property is more expensive than the others with enquires starting at $795,000. However, It is in close vicinity to schools and would be suitable if you are looking for an excellent family home. The property itself has stunning views and lots of space with 140-meter squares. it is located in Wellington which has good transport links and has good access to local shops and attractions.
House Prices in Hamilton, Waikato
Just below Auckland on the North Island, you will find Hamilton, the administrative centre of Waikato. House prices here may be a little pricier than in the UK however there are plenty of reasonably priced properties to be found if you have the time to keep looking. The median property price for a property in Waikato is $800,000, however, you can find cheaper properties than that in Waikato of course.
Leasehold Property, Whitiora, Hamilton City NZ$529,000 (£273,199)
This 1970’s leasehold property in Whitiora is an unusual one but in a great location and positioned at the end of a block, and represents a good property investment in a more central location. It benefits from its own garage and off-street parking, as well as having 2 bedrooms and a bathroom.
It is perfectly located in the CBD and is close to local bus routes as well as local arterial routes, making car travel very easy in the vicinity. Some modernisation is needed but for this price range, it is a great purchase.
Detached House, Fairfield, Hamilton City NZ$549K (£283,528)
This property is located in Hamilton City and is listed for a great price of NZ$549,000. It has 3 bedrooms, 1 bathroom and space for one car. There is also some outside space. Whilst you are getting a good amount of property for the money, as you might expect, there is some work required on the property.
However, this is still a good investment and offers plenty of potentials and the chance to really make your mark. It is easily accessible for commuter routes to the north and south, in a good school district and a great location.
House in Fairfield, Hamilton City NZ$740K (£386,069)
This property is also located in Hamilton City, if you have a larger budget, or want a property that would require less work, this will be ideal for you. This three-bedroom house is great value for money and in a great location for local shops including Chartwell shopping centre.
House Prices in Tauranga, Bay of Plenty
Tauranga is located on the beautiful Bay of Plenty which gives its name to this region of New Zealand. A completely different type of the area to the others we have looked at on the North Island, the housing here is very varied with transportable and large modern brick homes being very popular choices. There are plenty of enviable views to be found here, both over the bay and also the surrounding hinterland. There is a great variety of housing to suit every budget. The median house property in this region is $905,000.
Downtown Townhouse, Tauranga City Centre NZ$595K (£306,645)
If you are drawn to a property with character, then this unusual 1970s townhouse with 70 square metres of space is a great option. It has 2 bedrooms and 1 bathroom and plenty of features. The outside area is a great space but could do with a little TLC to make it more usable. Having said that, the inside of the property needs very little work and benefits from plenty of natural light, making it appear more spacious than the floorplan would suggest. Located right next to the university, this townhouse is ideally located for amenities and local bus services.
Family House, Kawerau, Tauranga offers over NZ$ 569k (£293,246)
Never judge a house by the outside: this property in Kawerau shows just what you could get for your budget if you are prepared for a short commute to Tauranga. With 140 square meters of house set in 834 meters of land, this spacious house offers 3 double bedrooms and 2 bathrooms. It has been renovated to create a great family space. There is also a large, covered deck area outside, a double garage, a well-established orchard and even room for a veg garden. The location offers a great rural backdrop.
Brookfield, Tauranga NZ$ 817,000 (£425.109)
This three-bedroom apartment is perfect for those who desire a quiet lifestyle in the suburbs of Tauranga. You will be able to enjoy great views and close access to secluded beaches. The property has good bedroom space, with harbour views perfect for sunny days. Tauranga central will provide you with great entertainment and the best food in the region. If you are looking for a quiet life with your family, this location may be perfect for you.
The PSS Property Guide to New Zealand’s South Island for UK Buyers
One big difference that you will notice between North Island and South Island is that on the latter house prices are considerably cheaper so you will be able to get a much more spacious property for your budget. The area is also much quieter with a slightly slower pace of life, so if you are after a quiet life then South Island could be for you.
House Prices in Christchurch, Canterbury
Christchurch, located halfway down the eastern seaboard of the South Island, is the capital of the Canterbury region. House prices in this area tend not to fluctuate too much.
For those who really enjoy the hustle and bustle of living within walking distance of a CBD, Christchurch offers some of the best options in terms of quality and affordability. For example, the median house property in Canterbury is $685,000. Many of the properties here are new builds, which were built after the devastating 2011 earthquakes
Modern Townhouse, St Albans, Christchurch NZ$585k (£301,491)
Superbly crafted in 2020, this modern townhouse in a new and rather upmarket development is a great property at a really great price. The 2 bedrooms and 1 bathroom are spacious, as is the rest of the property, and it has been expertly finished with a range of high-quality appliances
For this money, you might not expect much in the way of outdoor space, but the house has a well-thought-out private courtyard as well, with plenty of space to sit out. There is also a personal parking space and a bike park as well. Whilst this property is not located in the centre of Christchurch itself, it is a very short commute away.
1910’s Property in Heathcote, Christchurch offers over NZ$549K (£282,938)
When you move a little way out of the city and into the suburbs you can find a little more for your money. This stunning 1910s property is packed with stunning features, like the wood-burning stove and polished wooden flooring throughout.
This is a really lovely piece of real estate with bags of personality. It has 3 bedrooms, 1 bathroom and space for 2 cars, and is ideally located for commuting. It also has a good-sized garden with plenty of established planting. Location-wise it is great for walking locally but still close enough to all those important amenities.
3 bedroom house in Halswell, Christchurch City NZ$849,000 (£441,5258)
This property has good garden space for barbecues and a modern-looking kitchen. It is located within close distance of amenities in Halswell and is a highly spacious property with 200 square meters.
For $849,000 it is great value and will be suitable for a family home or if you are looking to invest in the area. You will find plenty of great walking and hiking tracks in Christchurch including Bottle Lake Forest & Halswell Quarry, both perfect for family walks and for adventures.
House Prices in Queenstown, Central Otago
Queenstown and the surrounding area (Central Otago/Lakes) is renowned as the best outdoor holiday destination in New Zealand. The average price for a property in Otago however is $720,000 and is a popular market for those looking to invest in property.
Modern Apartment in Central Queenstown NZ$495K (£255,108)
If you are not in need of a family home then this 1 bedroom, 1 bathroom luxury apartment in the heart of Queenstown will certainly fit the bill and comes in within the budget. With a 58-metre squared footprint, it is certainly on the small side.
However, the location and the modern comfort that this type of property offers may be ideal whilst you find your feet and, with property prices in Queenstown rising all the time, selling on shouldn’t be too much of a struggle.
There is another option in Queenstown that does come in on budget, just, and that is the price of a plot that you can build a property on; however, like property, the price of land is also rising and at NZ$600K for 626 metres squared you really would need a bigger budget in order to build. If you are willing to look a little further afield from Queenstown, you will find property more reasonably priced.
Three Bedroom Family Home in Alexandra, Otago offers over NZ$570k (£293,761)
Alexandra is a picturesque town an hour’s drive from Queenstown. This is a stunning rural location with the kind of views people only ever dream of living near. A very reasonable £294k will buy you a great-sized family home with 3 bedrooms, 1 bathroom and plenty of fantastic outside space – in this case, a fantastic-sized decking area, gardens and a garage. And the view over the top of the other houses to the mountains may just make you push your budget a little further if necessary.
House Prices in Dunedin, Otago
House prices in Dunedin are on the rise as well but haven’t quite reached the median prices you might find in other areas of the South Island. There should be plenty of choices for your budget here.
Three Bedroom House, Dunedin Central NZ$530k (£273,146)
When it comes to Dunedin, your budget will buy you quite a bit. This stunning property, which has been renovated by the current owners, is a great example of what you can find if you look carefully. Quietly unassuming from the outside, the interior of this property features large rooms with plenty of natural light, and externally there is a good-sized garden as well. Location wise it is easily accessible for local amenities and just a stone’s throw from the seafront.
1960’s Bungalow, Green Island, Dunedin offers over NZ$549K (£282,938)
A 4 bedroom, 1 bathroom brick bungalow with 607 square metres of land will set you back around £283K in the rural suburb of Green Island, just a short drive from the CBD of Dunedin. Large open plan living areas with good-sized bedrooms on the inside, and a conservatory and well-proportioned garden on the exterior, make this a very good buy. There are plenty of great schools in the nearby vicinity as well, making this a very good family home.
Roslyn, Dunedin City NZ$825,000 (£429,210)
This modern apartment is highly spacious with three double bedrooms and good outdoor space. The property invites offers for over $825,000, however, Dunedin is an attractive location to invest in due to its affordability and good urban living lifestyle. This 145-meter square apartment has plenty of space and is close to schools making it ideal for those looking to invest in a family home. This property will also provide you with good kitchen space and nice seating areas for hot days.
House Prices in Nelson
Nelson is the major urban centre for the region of the same name. The area was established in 1841 and has a long association with England. House prices here are very reasonable and have risen at a slower rate than in other areas of New Zealand with the median property price being $750,000.
Beach View House, Nelson NZ$600,000 (£309,222)
Within easy walking distance of Tahunanui Beach, this house has everything you could want from a first property in New Zealand. The property itself is low maintenance and has a well-thought-out internal layout with a heat pump for warmth during the chillier days. With 3 bedrooms and a bathroom, this property may only have a small footprint at just 90 metres square, however, it really does have everything you would need to settle into a new life in a new country. Property in this location is always in demand so should you decide to move on selling should present no problems
Rural Idyl, Tasman, Nelson offers over NZ$575k (£296,338)
If the rural life is calling you and you fancy a slower pace of life with blissful scenery and some land, then this incredible 2 bedroom property in Tasman, located above Nelson, is set on 2 acres of land and has 3 paddocks attached for smaller animals. Properties like this don’t come up all that often, but it is always worth keeping your eyes open.
Valley Heights Road, Nelson NZ$749,000 (£388,109)
This property welcomes offers over $749,000 but provides spacious bedroom space and an excellent view as you can see above. This property will be ideal if you are looking to raise a family and looking for easy access to schools and entertainment.
Got plenty of money?
If money was no object to your property search, then there are some incredibly expensive and well-appointed modern apartments to be found in some of the bigger cities in New Zealand. However, why have an apartment when you could live in a castle?! This rural castle retreat in Rotongaro, Waikato has four large bedrooms, 2 of which are housed in a separate wing. There is a swimming pool, a tennis court and a substantial amount of land. The views over the lake and surrounding, unspoiled landscape are unrivalled. This property is likely to set you back at least NZ$5,750,000 (£2,963,377).
Where in New Zealand will you move to?
Even if your budget is a little lower than the median price of housing in many areas of New Zealand, it is important to remember these medians have been inflated by the more expensive city properties. This means that there are still plenty of affordable options available.
If you have more flexibility on where you want to live then consider smaller towns, outlying suburbs, or those rural areas outside the major cities, this way you are certain to find something to suit your budget and lifestyle. Another alternative would be to keep your eye on the property market during your first 12 months in New Zealand in order to catch the bargains as they come up. If DIY doesn’t terrify you, then you may also want to consider a property that needs some renovation, as this could represent a much more affordable option in the first instance and would really allow you to make your mark on your New Zealand home.
It is important to remember that the property you choose, and the neighbourhood it is in, can make a big difference when it comes to adjusting to your new life down under, so make sure that it is one that works for you and your family, and of course your circumstances.
Moving and shipping to New Zealand
When you’re ready to take the first steps with your removal service to New Zealand then give the helpful team at PSS International Removals a call.
We can take care of your removals process from start to finish, including packing, shipping, customs clearance and delivery to your new home, no matter where in New Zealand you have decided to live.
If you have not yet purchased a property, we can also store your furniture and those belongings you won’t immediately need until you are ready to move in.