The value of New Zealand’s residential property market has almost reached $1 trillion dollars

The value of New Zealand’s residential property market has increased to almost $1 trillion dollars. Property Institute released a publication this month showing that the total value of residential property in New Zealand is worth about $941 billion, up from $667 billion 3 years ago. So in the space of 3 years, the total housing stock has increased over 40% (and significantly outperforming the average stocks on the NZX or even ASX at arguably a lower risk).

  • Auckland is now worth $469 billion (up from $344 billion in 2015)
  • Wellington is now worth over $88 billion (up from around $60 billion in 2015)
  • Christchurch is now worth over $67 billion (up from around $60 billion in 2015)
  • Tauranga is now worth over $34 billion (up from around $21 billion in 2015)
  • Hamilton is now worth around $28 billion (up from around $18 billion in 2015)
  • Dunedin is now worth almost $17 billion (up from around $12 billion in 2015)

Auckland continues to make up the largest proportion of the total value of  housing stock because it is NZ’s most populous city and has a larger share of the countries jobs.

On a separate note It’s also interesting to note that Auckland’s regional GDP is larger than the Wellington region, Canterbury region and Waikato region combined.

 

back to home (Property Guide 360 .co.nz)