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Real Estate NZ Info

Real Estate NZ
NZ-Real Estate. NZ is a property information and listing website where buyers and sellers connect to satisfy their wants and needs for Real Estate NZ.

Real Estate NZ overview

New Zealand Info

New Zealand is an island nation in the south Pacific, located roughly 2,000 kilometres east of Australia. It has a population of 4.4 million people. The total land area is 267,710 km², 103,738 miles². It consists of two main islands, the North Island and the South Island.

The North Island is 115,777 sq km, (44,281 sq miles ) is 829 km (515 miles) long and volcanic in its south-central area.

South Island 151,215 sq km, (58,093 sq miles ) and has the Southern Alps along its west side.

Auckland is New Zealands largest city with a population of 1.4 million people. Wellington is the capital city with a population of 0.4 million. The other main cities are Christchurch, Dunedin and Hamilton.

Residential house price statistics

real estate nz pricesNation wide price graph

The graph shows median house prices in New Zealand have gone from close to NZ$ 100,000 in 1992 to close to NZ$ 450,000 in 2016. There was a plateau in 2006-2007. Followed by a fall in 2008 to 2009. Since 2012 the trend has been upward until 2015, when there was a correction downward. Then trending up in 2016.

real estate nz regional prices

Regional Price Graph

When the Real Estate NZ housing price index is broken down to the regions we see Auckland leading and showing a marked increase ahead of the other main centres from 2011 to 2015.

The types of dwellings in New Zealand.

In the 2013 census occupied dwellings for which the type was indicated 81.1% = 1,193,358 were separate houses. The separate houses for which the number of levels was indicated indicated about 3 out of 4 were one level.

Private dwellings that were joined to other private dwellings. (i.e apartments, units and terraced housing ) made up 18.1% (266,748 dwellings). This is the same percentage as the 2006 census.

Of those private dwellings 43.5% were part of a building that had more than one level.

Multi level private dwellings have become more common since 2006.

• 24.6 percent of separate houses had two or more storeys (up from 23.3 percent in 2006)
• 34.7 percent of joined dwellings were part of two- or three-storey buildings (up from 32.9 percent in 2006)
• 8.7 percent of joined dwellings were part of four- or more storey buildings (up from 6.5 percent in 2006).
Multi-storey separate houses were most common in the Auckland and Wellington regions. In 2013, the percentages of separate houses that were multi-storey were:
• Auckland region – 37.7 percent (up from 34.7 percent in 2006)
• Wellington region – 33.2 percent (up from 31.7 percent in 2006).

Home ownership by households

The trend of lower home ownership has continued.
The data on home ownership by households shows that 64.8 percent of households owned their home or held it in a family trust in 2013, down from 66.9 percent in 2006. This includes both households that made mortgage payments and households that did not.
The percentage of households that owned their home, excluding those whose home was in a family trust, was 49.9 percent in 2013, down from 54.5 percent in 2006.
Of those households that owned their home and specified whether they made mortgage payments, 56.4 percent (398,373 households) made mortgage payments in 2013. This was very similar to 2006 (56.5 percent or 405,267 households).
The percentage of households that reported that their dwelling was in a family trust increased, at 14.8 percent (215,280 households) in 2013, compared with 12.3 percent (167,922 households) in 2006.

real estate nz dwelling ownership

More than 1 in 3 households do not own the home they live in.
In 2013, 35.2 percent of households did not own their home, up from 33.1 percent in 2006. Most of these households were renting (453,135 households). There were 53,889 households living rent-free, and a small number of households who did not indicate whether or not they were paying rent.
The regions with the highest percentages of households who did not own their home were:
• Gisborne – At 40.8 percent
• Auckland – At 38.5 percent.

Home ownership by individuals

Close to half of people aged 15 years and over own their home
The data on home ownership by individuals showed that the percentage who owned their home fell to just under half. In 2013, 49.8 percent of people aged 15 years and over owned or partly owned the home they lived in, compared with 53.2 percent in 2006.
Home ownership was highest for those aged 70–74 years, at 77.5 percent.
A drop in home ownership occurred across all age groups, from those in their 20s to those in their 70s. The largest falls were for those in their 30s and 40s. In 2013, 43.0 percent of people aged 30–39 years owned their home – down from 54.6 percent in 2001. For those in their 40s, 60.8 percent owned their home in 2013, down from 71.5 percent in 2001.

real estate nz home ownership

Home ownership was higher for the European and Asian ethnic groups than for Māori and Pacific peoples. Home ownership for each of these ethnic groups was:
•European – 56.8 percent
•Asian – 34.8 percent
•Māori – 28.2 percent
•Pacific peoples – 18.5 percent.
Ethnic group differences in home ownership levels may be partly related to the age and geographic characteristics of the different ethnic groups.
Individual home ownership was strongly related to partnership status. Of people who were partnered, 66.7 percent owned their home compared with 26.3 percent of people who were not partnered. Married people were the most likely to own their home, at 75.1 percent. People who had never been married or in a civil union were the least likely to own their home, at 12.3 percent. 14

Households that rent

Over 450,000 households rent their home.
In 2013, 453,135 households rented their home (ie paid rent), up from 388,275 in 2006.
Like households overall, households who rented their home were most likely to be one-family households (63.3 percent) or one-person households (23.5 percent).
Other multi-person households (such as unrelated people flatting together) made up 9.3 percent of households who rented their home.
Over three-quarters of the households renting from a local authority or city council were one-person households.
Most households who rented were renting from the private sector (83.7 percent or 355,554 households). This was an increase from 81.8 percent in 2006 and 78.4 percent in 2001.
In Real Estate NZ there were 52,503 households who reported that they rented from Housing New Zealand, and 11,307 households who rented from a local authority or city council.
The figure for those renting from Housing New Zealand is estimated to be an under-count of about 18 percent, based on a comparison with Housing New Zealand’s administrative records. This difference could be due to several factors, such as tenants being away on census night and poorer quality response to the census from these households.
Rental homes have fewer bedrooms than owned homes.
In general, rental housing in Real Estate NZ tended to have fewer bedrooms than housing that was owned or in a family trust.
Of households who rented, 29.0 percent were in a two-bedroom home, compared with 13.8 percent of households who owned their home or held it in a family trust.
Households who rented their home were less likely to be in a four-bedroom home (at 13.4 percent), than households who owned their home or held it in a family trust (28.8 percent).

For households in Real Estate NZ who rented privately, the percentage living in a home with:
•two-bedrooms declined slightly (28.4 percent in 2013, down from 29.8 percent in2006)
•four-bedrooms increased (14.6 percent in 2013, up from 12.7 percent in 2006).
For households who rented from Housing New Zealand, the percentage living in a home with:
•three-bedrooms decreased (41.8 percent in 2013, down from 45.2 percent in 2006)
•two-bedrooms increased slightly (36.6 percent in 2013, up from 35.2 percent in2006)
•four-bedrooms increased slightly (9.3 percent in 2013, up from 8.4 percent in2006).
About 4 out of 5 households who rented from a local authority or city council were in a one-bedroom home (8,628 households). This was related to the type of households who rented from this landlord sector, most of which were one-person households.
Wide variation in rent paid
There was wide variation in the amount of rent paid. Most commonly, households paid between $250 and $349 a week. However, 8.6 percent of households paid less than $100 a week, and 8.8 percent paid $500 or more a week. 16

Nationally, the median (half paid more, and half paid less, than this amount) weekly rent in 2013 was $280. Median rent varied according to the number of bedrooms, at $260 for two bedrooms, $300 for three bedrooms, and $360 for four bedrooms.
The highest median rents were in Auckland local board areas:
•Upper Harbour – $430
•Devonport-Takapuna, Orakei, and Howick – $420
•Hibiscus and Bays, and Waitemata – $400.
Of the territorial authority areas (districts and cities), Selwyn district had the highest percentage increase (75.0 percent) in median weekly rent since 2006, at $280 in 2013, compared with $160 in 2006.

Number of bedrooms and rooms in private dwellings.

The percentage of four-bedroom dwellings in Real Estate NZ continues to increase.
The percentage of occupied private dwellings with four bedrooms increased since the last census. In 2013, 23.4 percent had four bedrooms, up from 21.6 percent in 2006, and 20.4 percent in 2001. This was not related to an increase in average household size, which remained at 2.7 people per household.
As in previous censuses, the most common number of bedrooms was three. In 2013, 44.5 percent of occupied private dwellings had three bedrooms, down from 46.3 percent in 2006.
There was a slight decline in the percentage of private dwellings with two bedrooms, at 19.1 percent in 2013, compared with 19.8 percent in 2006.
One-bedroom private dwellings remained relatively rare, at 5.7 percent in 2013.
As in previous censuses, the most common number of total rooms in occupied private dwellings was six. About 1 in 4 private dwellings in 2013 had six rooms, which was similar to 2006.
There was a slight increase in the percentage of private dwellings in Real Estate NZ with eight rooms, at 11.6 percent in 2013, compared with 10.9 percent in 2006.

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