Authored by the expert who managed and guided the team behind the New Zealand Property Pack
Yes, the analysis of Auckland's property market is included in our pack
Auckland's property market remains one of New Zealand's most expensive, with average prices per square meter ranging from NZ$8,933 for houses to NZ$14,735 for apartments as of September 2025.
The city's residential market shows significant variation across property types and locations, with luxury suburbs like Herne Bay commanding over NZ$15,000 per square meter while budget-friendly areas like Manukau offer opportunities under NZ$10,000 per square meter.
If you want to go deeper, you can check our pack of documents related to the real estate market in New Zealand, based on reliable facts and data, not opinions or rumors.
Auckland property prices vary dramatically by type and location, with apartments averaging NZ$14,500 per square meter and houses around NZ$9,200 per square meter as of September 2025.
The market has stabilized after a 22% decline from its 2021 peak, with experts forecasting 4.5-6% growth in 2026 as interest rates ease and demand returns.
| Property Type | Average Price per sqm | Typical Property Size |
|---|---|---|
| Apartments | NZ$14,281-14,735 | 40-80 sqm |
| Houses | NZ$8,933-9,447 | 120-180 sqm |
| Townhouses | NZ$8,300-12,500 | 80-120 sqm |
| Luxury Properties (Herne Bay) | NZ$15,000+ | 200+ sqm |
| Budget Areas (Manukau) | NZ$7,000-9,000 | 100-150 sqm |
| New-builds (construction cost) | NZ$3,219 (excluding land) | Variable |
| Auckland Central (apartments) | NZ$12,000-16,000 | 35-60 sqm |
What is the current average price per square meter in Auckland?
Auckland's residential property market shows an average price of NZ$14,281 to NZ$14,735 per square meter for apartments as of September 2025.
Houses command lower prices per square meter, ranging from NZ$8,933 to NZ$9,447 per square meter due to their larger land components and suburban locations. This significant difference reflects the premium placed on central locations and apartment amenities versus the space and land value that comes with house purchases.
The overall Auckland residential market median sits around NZ$11,500 per square meter when combining all property types. This figure represents a stabilized market after the significant corrections of 2022-2023, when prices dropped 22% from their 2021 peaks.
New construction costs average NZ$3,219 per square meter excluding land, which helps explain why existing properties command such premiums in established neighborhoods.
It's something we develop in our New Zealand property pack.
How do prices differ depending on the property type, like apartments, houses, or townhouses?
Property type creates the most significant price variation in Auckland's market, with apartments commanding the highest price per square meter.
| Property Type | Price per sqm Range | Typical Total Price |
|---|---|---|
| Apartments | NZ$8,875-17,500 | NZ$510,000-700,000 |
| Townhouses | NZ$8,300-12,500 | NZ$900,000-1,000,000 |
| Standalone Houses | NZ$6,875-9,447 | NZ$1,107,000 (median) |
| Luxury Houses | NZ$12,000-20,000+ | NZ$2,000,000+ |
| Budget Houses | NZ$5,500-8,000 | NZ$585,400-850,000 |
What are the most expensive areas in Auckland, and how much do they cost per square meter?
Herne Bay stands as Auckland's most expensive suburb with a median house price of NZ$3,359,400, translating to over NZ$15,000 per square meter for premium properties.
Stanley Point on the North Shore commands NZ$2,374,600 median prices, while Omaha in Rodney reaches NZ$3,060,550 for luxury coastal properties. These premium locations often exceed NZ$18,000 per square meter for waterfront or architecturally significant homes.
Other high-end areas include Parnell, Remuera, and parts of Ponsonby, where prices regularly surpass NZ$12,000 per square meter. The Orakei Ward, despite being undervalued by 67.5% according to recent analysis, still maintains premium pricing due to its harbor location and established character.
Luxury apartments in Auckland Central's premium buildings can reach NZ$20,000 per square meter, particularly those with harbor views or in architecturally significant developments.
What are the up-and-coming neighborhoods where prices are expected to rise soon?
Birkdale on the North Shore leads growth expectations with recent 3% annual increases and strong infrastructure development plans.
The following neighborhoods show the strongest growth potential for 2026-2027:
- Orakei Ward: Currently undervalued by 67.5%, positioning it for significant catch-up growth as the market recovers
- Ellerslie: Recording 1.6% annual growth with excellent transport links and urban development projects
- Rodney (northern areas): Projected long-term population expansion driving demand, with Sandspit showing 2.5% recent growth
- Red Hill (Papakura-Franklin): 1.2% annual growth with affordability attracting first-home buyers
- Areas near City Rail Link stations: Infrastructure improvements expected to drive 10-15% premium pricing by 2027
Which areas are the most budget-friendly right now, and what are their price ranges?
Auckland Central offers the most affordable entry point at NZ$511,700 median price, though this reflects smaller apartment-focused housing stock.
Manukau in South Auckland provides family housing at NZ$585,400 median, translating to approximately NZ$7,000-9,000 per square meter for standalone houses. This area offers good value for families seeking space and affordability.
Other budget-friendly options include Orere Point, Kelston, and Parakai, all maintaining median prices under NZ$850,000. These areas typically offer NZ$5,500-8,000 per square meter pricing but require longer commutes to central Auckland.
The eastern suburbs of Manukau and parts of Waitakere provide opportunities for investors seeking rental yields, with properties often available below NZ$8,000 per square meter.
It's something we develop in our New Zealand property pack.
How do prices vary depending on the property size or total surface?
Smaller properties command significantly higher prices per square meter due to location premiums and fixed infrastructure costs.
Apartments under 50 square meters in Auckland Central average NZ$14,000 per square meter, while larger 80+ square meter units drop to NZ$12,000-13,000 per square meter. This reflects the premium placed on central locations regardless of size.
Houses show inverse pricing patterns, with smaller 100-120 square meter properties averaging NZ$9,500 per square meter, while larger 160+ square meter homes drop to NZ$6,875 per square meter. This occurs because land value gets distributed across larger floor areas.
Townhouses in the 80-120 square meter range maintain consistent NZ$8,300-12,500 per square meter pricing, as their standardized designs and medium-density locations create predictable value patterns.
What are some example purchase prices for typical properties in different parts of the city?
Property prices vary dramatically across Auckland's diverse neighborhoods, reflecting location premiums and property types.
| Area | Property Type | Typical Price |
|---|---|---|
| Herne Bay | 4-bedroom house | NZ$3,359,400 |
| Auckland Central | 1-bedroom apartment | NZ$511,700 |
| Manukau | 3-bedroom house | NZ$585,400 |
| Stanley Point | Luxury house | NZ$2,374,600 |
| Parakai | Family house | NZ$710,400 |
| Henderson | 3-bedroom house (160sqm) | NZ$1,100,000 |
| Ponsonby | 2-bedroom apartment | NZ$850,000-1,200,000 |
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What is the full cost of buying a property, including taxes, legal fees, and other transaction costs?
Auckland property purchases involve total transaction costs of approximately 1.6-1.9% of the purchase price for buyers.
Legal fees typically range from NZ$2,040 to NZ$2,390 for standard purchase transactions including mortgage documentation. LIM reports and council checks add another NZ$300-500 to cover due diligence requirements.
New Zealand imposes no stamp duty or transfer taxes, making it more affordable than many international markets. Buyers need to prepare a deposit of typically 20% of the purchase price, though first-home buyers may qualify for lower deposit options.
For a typical NZ$1,100,000 Auckland house purchase, expect total buying costs of NZ$17,600-20,900 beyond the deposit. This includes legal fees, building inspections, LIM reports, and any mortgage arrangement fees.
Sellers bear the majority of transaction costs, paying 3.5-4% plus GST in real estate agency fees, making Auckland attractive for buyers compared to seller-heavy cost markets.
How much would a mortgage typically cost for an average property in Auckland today?
The average mortgage size in New Zealand reaches NZ$588,558 as of September 2025, with Auckland properties typically requiring larger loans.
Current interest rates sit at 6.79% for floating mortgages and 5.56% for one-year fixed terms as of June 2025. For a typical NZ$1,100,000 Auckland house with 20% down payment, monthly mortgage payments range from NZ$5,300 to NZ$5,700 over 30 years.
Auckland apartment purchases averaging NZ$600,000 with 20% down create monthly payments of approximately NZ$2,900-3,200, making them more accessible for first-time buyers and investors.
Current mortgage serviceability requires household income of approximately NZ$180,000-200,000 for median Auckland house purchases, assuming standard debt-to-income ratios of 6-7 times annual income.
Interest rate forecasts suggest potential easing to 5-5.5% by 2026, which could reduce monthly payments by NZ$400-600 for typical Auckland mortgages.
What are the best options depending on whether you want to live in the property, rent it out short term, rent it out long term, or buy to resell later?
Owner-occupiers should prioritize location, commute convenience, and school zones, with apartments and units offering more attainable options in central areas.
Short-term rental investors find success in Auckland Central apartments, Ponsonby, and Newmarket areas popular with tourists and business travelers. However, regulatory restrictions may apply, requiring careful compliance checking before purchase.
Long-term rental strategies work best in outlying suburbs, areas near universities, and major employment centers. Auckland rental yields average 3.5-4% gross, lower than regional areas but offering greater capital stability and tenant demand.
Buy-to-resell investors should target undervalued areas with strong growth projections, particularly Orakei, Birkdale, and suburbs near planned infrastructure improvements. Investing during cyclical market troughs in 2025-2026 positions buyers for capital gains during the projected recovery.
It's something we develop in our New Zealand property pack.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in New Zealand versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.
How have property prices changed compared to one year ago and compared to five years ago?
Auckland property prices declined 3.4% in the year to June 2025, with median values dropping from NZ$1,025,000 to NZ$990,000.
Over five years from 2020 to 2025, Auckland prices increased 6% from NZ$934,000 to NZ$990,000 median. This modest growth masks significant volatility, including a 22% decline from the 2021 peak of approximately NZ$1,270,000.
The market peaked in late 2021 during ultra-low interest rate conditions, then corrected through 2022-2023 as borrowing costs increased rapidly. Prices stabilized in 2024-2025 as the market adjusted to higher interest rate conditions.
Different property types showed varying performance, with apartments maintaining better price stability due to their lower entry costs and consistent rental demand from students and young professionals.
What is the forecast for prices in the next one year, five years, and ten years, and how does Auckland compare with other big similar cities?
Auckland property market forecasts predict 4.5-6% growth in 2026 as interest rates ease and buyer confidence returns.
Medium-term projections through 2027 show Auckland outpacing smaller New Zealand cities, with median prices expected to rebound above NZ$1,050,000. The market should achieve full recovery to 2021 peak levels by 2028-2029.
Long-term growth typically averages 6% annually for Auckland, stronger than most New Zealand regions but more conservative than fast-growing Australian cities like Brisbane. The city maintains its position as New Zealand's primary economic center, supporting sustained demand.
International comparisons show Auckland remaining "severely unaffordable" by global housing affordability indices. However, prices per square meter stay cheaper than Sydney and Melbourne central locations, while offering similar lifestyle and economic opportunities.
Ten-year projections suggest Auckland median prices reaching NZ$1,600,000-1,800,000 by 2035, assuming normal economic conditions and continued population growth of 1-1.5% annually.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Auckland's property market offers diverse opportunities across price points, from affordable apartments in Auckland Central to luxury houses in Herne Bay, with prices per square meter ranging from NZ$7,000 to over NZ$15,000 depending on location and property type.
The market has stabilized after significant corrections and shows positive growth prospects for 2026-2027, making it an opportune time for both investors and owner-occupiers to enter this resilient market.
Sources
- Properstar Auckland House Prices
- Mortgages.co.nz Building Costs
- BambooRoutes Auckland House Prices
- Opes Partners Auckland Market
- Open Expert Expensive Suburbs
- The Rent Shop Investment Suburbs
- OneRoof Cheapest Suburbs
- Property Law Auckland Prices
- Global Property Guide NZ Costs
- Canstar Average Home Loan