Housing

Housing in New Zealand

New Zealand's housing market has seen significant changes in 2025-2026, with rental prices dropping for the first time in a decade.

Current Rental Market (2026)

Major City Weekly Rents (converted to monthly):

• Auckland: NZD $684/week (NZD $2,964/month) - down 2.5% from 2024
• Wellington: NZD $626/week (NZD $2,713/month) - down 9.7% from 2024
• Christchurch: Slight increase, more stable

National Trend: Average weekly rent dropped from NZD $638 to $627 (1.8% decrease) between 2024 and 2025 - first year-on-year drop in a decade.

2026 Outlook: Cautiously optimistic with forecasts suggesting potential 5% rise in property values, though rental market may remain stable.

Finding Rental Housing

Main Platforms:

• Trade Me Property (most popular)
• realestate.co.nz
• Facebook Marketplace
• Local real estate agents

Rental Process:

1. View properties (open homes or private viewings)
2. Submit application with references
3. Provide proof of income (3x rent typical requirement)
4. Pay bond (typically 3-4 weeks rent) held by Tenancy Services
5. Sign fixed-term (usually 12 months) or periodic tenancy agreement

Requirements:

• References from previous landlords
• Proof of income
• ID and visa documentation
• Pet bonds additional if allowed

Housing Quality

Important Note: Many NZ homes lack central heating and proper insulation compared to European or North American standards. Weathertightness and building quality vary significantly.

Heating: Most homes use heat pumps (reverse cycle air conditioners), electric heaters, or wood burners. Winter can be cold and damp, especially in older properties.

Healthy Homes Standards: Since July 2021, all rental properties must meet minimum standards for insulation, heating, ventilation, moisture, and draught stopping.

Buying Property

House Prices (2026 median):

• Auckland: NZD $1,047,044
• Wellington: NZD $785,790
• Christchurch: More affordable

Foreign Buyers: Restrictions on foreign buyers purchasing existing homes (ban introduced 2018). Foreign buyers generally limited to new builds or require special permission.

Process:

1. Pre-approval for mortgage
2. Engage lawyer for conveyancing
3. Make offer (private treaty or auction)
4. Building inspection recommended
5. Settlement typically 30-90 days

Deposit: Typically 20% for residents, higher for temporary visa holders.

Regional Differences

Auckland: Most expensive, international city feel, diverse, traffic congestion, maritime climate

Wellington: Capital city, government jobs, windy, compact, strong coffee culture, hillside suburbs

Christchurch: Most affordable major city, flat geography, recovering from earthquakes, growing tech sector

Smaller Cities (Tauranga, Hamilton, Dunedin, Nelson): Lower costs, slower pace, strong local communities, limited job markets in some sectors

Tips for Expats

• Start your house hunt before arrival using Trade Me Property
• Join expat Facebook groups for housing tips and occasional sublets
• Understand NZ winters can be cold and damp - prioritize well-insulated, heated homes
• Bond is held by independent Tenancy Services (not landlord) - protection for both parties
• Furnished rentals less common than unfurnished - budget for basic furniture