New Zealand Residential Property Prices
Year-on-year change in nominal residential property prices.
Residential Property Prices in New Zealand increased to -0.75 percent in Q1 2026 from -1.19 percent in Q4 2025.
New Zealand Residential Property Prices — History
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New Zealand Residential Property Prices — analysis in simple words
Latest reading
Residential Property Prices in New Zealand increased to -0.75 percent in Q1 2026 from -1.19 percent in Q4 2025.
Over the last three quarters it rose twice and fell once.
Recent trend
A year earlier (Q1 2025) it was -1.9%, so the latest figure is 1.2 percentage points higher.
Over the past five years the average was 2.9%, with a range from -11.7% to 28.7%. The latest value is below that five-year average.
Historical context
This data series starts in Q2 1963 and has 252 quarterly observations. The latest reading is higher than 11% of all of them.
The highest value on record is 43.7% (Q2 1974) and the lowest is -11.7% (Q1 2023). The long-run average is 8.3%.
Compared with other countries
Among 57 economies with recent data, New Zealand ranks 52nd from the top. The median across all these economies is 5.2%, so New Zealand is below the typical country.
Within East Asia & Pacific (11 economies with data) it ranks 10th; the regional median is 2.5%.
Statistics
- Latest
- -0.8%Q1 2026
- Previous
- -1.2%
- 5-year average
- 2.9%
- Long-run average
- 8.3%since Q2 1963
- All-time high
- 43.7%Q2 1974
- All-time low
- -11.7%Q1 2023
- Observations
- 252Quarterly
Recent Data
| Period | Value | Change |
|---|---|---|
| Q1 2026 | -0.8% | ▲ +0.4 pp |
| Q4 2025 | -1.2% | ▼ −0.7 pp |
| Q3 2025 | -0.5% | ▲ +0.6 pp |
| Q2 2025 | -1.1% | ▲ +0.8 pp |
| Q1 2025 | -1.9% | ▼ −0.3 pp |
| Q4 2024 | -1.6% | ▼ −0.6 pp |
| Q3 2024 | -1.0% | ▼ −2.2 pp |
| Q2 2024 | 1.2% | ▼ −0.9 pp |
| Q1 2024 | 2.1% | ▲ +2.7 pp |
| Q4 2023 | -0.6% | ▲ +3.4 pp |
| Q3 2023 | -4.1% | ▲ +4.8 pp |
| Q2 2023 | -8.9% | ▲ +2.8 pp |
| Q1 2023 | -11.7% | ▼ −0.9 pp |
| Q4 2022 | -10.8% | ▼ −7.1 pp |
| Q3 2022 | -3.6% | ▼ −8.8 pp |
| Q2 2022 | 5.1% | ▼ −8.5 pp |
| Q1 2022 | 13.6% | ▼ −12.3 pp |
| Q4 2021 | 25.9% | ▼ −2.7 pp |
| Q3 2021 | 28.7% | ▲ +0.2 pp |
| Q2 2021 | 28.5% | ▲ +5.8 pp |
| Q1 2021 | 22.7% | ▲ +6.7 pp |
| Q4 2020 | 16.1% | ▲ +6.1 pp |
| Q3 2020 | 10.0% | ▲ +3.2 pp |
| Q2 2020 | 6.8% | ▼ −0.7 pp |
| Q1 2020 | 7.6% | ▲ +2.8 pp |
| Q4 2019 | 4.8% | ▲ +1.7 pp |
| Q3 2019 | 3.1% | ▲ +1.1 pp |
| Q2 2019 | 2.0% | ▼ −0.6 pp |
| Q1 2019 | 2.6% | ▼ −0.7 pp |
| Q4 2018 | 3.3% |
Residential Property Prices — New Zealand vs Peers
Latest available reading for each economy (periods may differ). New Zealand highlighted.
More New Zealand indicators
Understanding Residential Property Prices — a simple guide
What it measures
The year-on-year change in nominal residential property prices (BIS).
How it is calculated
Year-on-year % change in a national house price index (BIS).
+6% means homes cost 6% more than a year earlier on average.
Rising prices increase household wealth but reduce affordability.
Falling prices can weigh on construction and banks.
Why it matters for the economy and markets
House prices affect household wealth, consumption, bank lending and construction activity.
How to read it
Compare with inflation to judge real price changes; rapid rises combined with fast credit growth are watched by regulators.
Data source
Bank for International Settlements (BIS) (series WS_SPP/N.771), quarterly data from Q2 1963 to Q1 2026. Values are shown exactly as published by the source and may be revised later.
How to use the chart
Use the 5Y / 10Y / 25Y / Max buttons to change the time range, or drag the slider under the chart. Hover (or tap) on the line to see the exact value for any period. Dashed lines and hatched bars are IMF projections, not actual data. The “Download CSV” button gives you the full data series.
Frequently asked questions
What is the current residential property prices of New Zealand?
What is the highest and lowest residential property prices of New Zealand?
What does residential property prices measure?
Data are sourced from official international organisations (IMF, World Bank, BIS) and national authorities, and are shown for educational and informational purposes only. They are not investment advice and no recommendation is made. Figures may be revised by the source; IMF figures for the current and future years are projections. This page was last updated on Saturday, October 17, 2026.