NZ housing: rents, prices and new homes

Q: Are rents going up?

Median weekly rent, new tenancies was unchanged from a year earlier (Ministry of Business, Innovation and Employment (Tenancy Services), Jul 2026).

Since Luxon's government took office

Median weekly rent, new rentals: $575 (Jul 2023) to $590 (Jul 2026); up $15.00.
Real house prices (OECD index): Sep 2023 qtr to Mar 2026 qtr; down 8.0%.
New dwellings consented, 12-month total: 40,408 (Year to Sep 2023) to 41,268 (Year to Aug 2026); up 860.

Luxon's government took office on 27 November 2023. These compare the last reporting period before the 14 October 2023 election with the latest period. Economic shocks, global conditions and earlier decisions also affect the figures. How we choose the periods.

More on housing

Each topic combines its data, definitions, questions and downloads.

RentsThe median weekly rent for a new tenancy was $590 (Ministry of Business, Innovation and Employment (Tenancy Services), Jul 2026).House pricesNew Zealand's inflation-adjusted house price index was 3.2% lower than a year earlier (OECD, Mar 2026 qtr).BuildingThe number of new dwellings consented was 3,440 (Stats NZ Tatauranga Aotearoa, Aug 2026).

House prices have fallen 3.2% after inflation in the past year in Mar 2026 qtr

The OECD house price index allows for general inflation. The index uses OECD data to the March 2026 quarter. In Mar 2026 qtr, the latest period all 4 comparison countries have.

3.2%

New Zealand, Mar 2026 qtr. Check the full series.

Inflation-adjusted house price indexes from the OECD for New Zealand, Australia, the UK, Canada, the US and the OECD as a whole, quarterly from 1990 (2015 = 100). Comparison period: 2026-03-31. Source: OECD, Analytical house prices indicators.

Bay of Plenty has the highest median rent for new rentals, at $650 a week

A typical new rental cost $590 in July 2026, unchanged on a year earlier.

Region	Rent, Jul 2026	A year earlier, Jul 2025	Change
Bay of Plenty	$650	$640	1.6%
Auckland	$640	$650	−1.5%
Gisborne	$618	$600	3.0%
Hawke's Bay	$600	$600	0.0%
Tasman	$600	$580	3.4%
Marlborough	$585	$535	9.3%
Otago	$580	$560	3.6%
Wellington	$575	$590	−2.5%
Waikato	$570	$560	1.8%
Northland	$560	$550	1.8%
Taranaki	$550	$563	−2.3%
Nelson	$550	$523	5.2%
Canterbury	$550	$530	3.8%
Manawatu-Wanganui	$520	$500	4.0%
Southland	$500	$480	4.2%
West Coast	$435	$420	3.6%

Source: Ministry of Business, Innovation and Employment (Tenancy Services), Rental bond data: monthly by region.

6.9 new homes were approved for every 1,000 people last year

The long-run series starts in 1966.

Show the figures

Period	New dwellings consented per 1,000 residents (calendar years) (number)
2025	6.9
2024	6.4
2023	7.2
2022	9.7
2021	9.6
2020	7.8
2019	7.6
2018	6.7
2017	6.5
2016	6.4
2015	5.9
2014	5.5
2013	4.8
2012	3.8
2011	3.1
2010	3.6
2009	3.4
2008	4.3
2007	6.1
2006	6.2

Full data: dwellings consented per 1000

Move through time

2025: 6.9

Source: Stats NZ Tatauranga Aotearoa, New dwellings consented per 1,000 residents.

House prices fell 3.9% compared with incomes in the past year in Mar 2026 qtr

The index base is 2015 = 100. In Mar 2026 qtr, the latest period all 4 comparison countries have.

In Mar 2026 qtr, the latest period all 4 comparison countries have.

IndexShow government terms

New ZealandAustraliaUnited KingdomCanada

Show the figures

Period	New Zealand (index)	Australia (index)	United Kingdom (index)	Canada (index)
Mar 2026 qtr	100.5	124.9	104.2	125.7
Dec 2025 qtr	101.3	121.5	103.6	128.0
Sep 2025 qtr	103.1	121.0	104.2	128.7
Jun 2025 qtr	104.1	119.2	103.0	131.4
Mar 2025 qtr	104.6	117.8	104.6	134.7
Dec 2024 qtr	106.5	119.3	103.8	135.3
Sep 2024 qtr	107.7	120.0	105.0	134.7
Jun 2024 qtr	110.0	121.2	106.3	136.9
Mar 2024 qtr	111.9	120.1	106.7	137.8
Dec 2023 qtr	111.8	118.4	109.6	138.4
Sep 2023 qtr	113.6	118.6	110.1	139.5
Jun 2023 qtr	114.2	116.8	110.3	136.6
Mar 2023 qtr	115.8	115.2	114.0	137.3
Dec 2022 qtr	120.5	113.8	115.7	138.3
Sep 2022 qtr	126.8	112.7	119.8	145.4
Jun 2022 qtr	134.0	117.7	119.8	151.2
Mar 2022 qtr	139.4	119.5	118.2	147.2
Dec 2021 qtr	142.9	119.1	115.4	143.3
Sep 2021 qtr	138.7	112.7	112.5	136.3
Jun 2021 qtr	134.1	112.5	112.9	132.5

Full data: house price to income international

Country comparison in Mar 2026 qtr
Country	Value (index) in Mar 2026 qtr
New Zealand	100.5
Australia	124.9
Canada	125.7
United Kingdom	104.2

March 2026 quarterNew Zealand 100.5Australia 124.9United Kingdom 104.2Canada 125.7

Move through time

An index of change since 2015 within each country, not a cross-country comparison of affordability levels. Uses average household disposable income per person, not the income of first-home buyers. Comparison period: 2026-03-31. Source: OECD, Analytical house prices indicators.

All housing data

Each has its own chart, the full data table, definitions and downloads.

Accommodation Supplement recipients363,309 (Jun 2026 qtr)New homes consented per 1,000 residents6.9 (2025)House prices relative to incomes: NZ and other countries100.5 index (Mar 2026 qtr)House prices relative to rents: NZ and other countries121.8 index (Mar 2026 qtr)Real house prices: NZ and other countries127.1 index (Mar 2026 qtr)Median weekly rent by region (new rentals)$560 (Jul 2026)Median weekly rent (new rentals)$590 (Jul 2026)New homes consented3,440 (Aug 2026)Rents (CPI rental price indexes)1,751.0 index (Aug 2026)

What people ask about housing

Questions about the figures in this section.

How much is rent in New Zealand?

The median weekly rent for a new tenancy was $590 (Ministry of Business, Innovation and Employment (Tenancy Services), Jul 2026).

Full answer

Which region has the highest rent?

Bay of Plenty had the highest regional median weekly rent for new rentals at $650 (Ministry of Business, Innovation and Employment (Tenancy Services), Jul 2026).

Full answer

Are rents going up?

Median weekly rent, new rentals was unchanged from a year earlier (Ministry of Business, Innovation and Employment (Tenancy Services), Jul 2026).

Full answer

Are house prices going down?

New Zealand's inflation-adjusted house price index was 3.2% lower than a year earlier (OECD, Mar 2026 qtr).

Full answer

How do NZ house prices compare with Australia?

House prices after inflation were 27.1% above their 2015 level in New Zealand and 31.8% above in Australia in Mar 2026 qtr (OECD; each country's 2015 index = 100). This compares price growth, not dollar prices.

Full answer

NZ housing statistics: missing data

We do not yet show house sales or completed homes. Stats NZ's property transfer statistics ended in June 2024, and New Zealand has no national count of completed homes, so consents are the main measure of new building.

NZ housing statistics: official sources

The organisations and licences behind the published datasets in this section.