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New Zealand house prices: a historical perspective

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Over the past three years, house prices have increased 52 percent in Auckland, but only 11 percent in the rest of New Zealand. Regional variation in house price inflation is not unusual, but the extent of the current divergence between house prices in Auckland and the rest of the country is unprecedented. Historically, Auckland house prices have trended upwards relative to those in the rest of New Zealand. But in instances when they have deviated significantly from house prices elsewhere, this divergence has subsequently reversed to some extent. Correction has occurred both via prices in the rest of New Zealand catching up to those in Auckland, and by Auckland prices falling to levels more consistent with those elsewhere.

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  • Elizabeth Kendall, 2016. "New Zealand house prices: a historical perspective," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 79, pages 1-14, January.
    • Handle: RePEc:nzb:nzbbul:jan2016:01
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    File URL: http://www.rbnz.govt.nz/-/media/ReserveBank/Files/Publications/Bulletins/2016/2016jan79-1.pdf
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    Cited by:

    1. Olga Filippova & Cuong Nguyen & Ilan Noy & Michael Rehm, 2020. "Who Cares? Future Sea Level Rise and House Prices," Land Economics, University of Wisconsin Press, vol. 96(2), pages 207-224.
    2. Gemmell, Norman, 2021. "What is happening to tax policy in New Zealand and is it sensible?," Working Paper Series 21110, Victoria University of Wellington, Chair in Public Finance.
    3. Olga Filippova & Cuong Nguyen & Ilan Noy & Michael Rehm, 2020. "Who Cares? Future Sea Level Rise and House Prices," Land Economics, University of Wisconsin Press, vol. 96(2), pages 207-224.
    4. Gemmell, Norman, 2021. "What is happening to tax policy in New Zealand and is it sensible?," Working Paper Series 9464, Victoria University of Wellington, Chair in Public Finance.

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