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Property Prices Double In A Decade In Most New Zealand Regions
Kawerau in the Bay of Plenty top of the table for five consecutive years; Auckland’s Hauraki Gulf Islands almost tripled in price.
Despite the fall in property prices last year, the latest data from realestate.co.nz proves that prices inevitably go up in the long run.
· In the ten years to 2023, the average asking price in every New Zealand region has increased, with 12 of 19 regions at least doubling and the remaining six increasing by at least 50%.
· Of the country’s 76 districts, 36 have increased by at least two-fold, while a further six were up by more than 90%.
· Find out whether prices doubled in your area – Check out the full release attached, along with accompanying charts.
Sarah Wood, CEO of realestate.co.nz, says the data underscores a resilient real estate market:
“It’s welcome news for the vast majority of Kiwis whose biggest asset is their home that although we will see peaks and troughs, prices are continuing to trend upward over the long term.”
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