The homes.co.nz Monthly Property Update is generated using homes.co.nz’s November 2022 HomesEstimates, providing an up-to-date perspective on house values around New Zealand.
Trends in our Main Cities
The property downturn is in full effect as average house prices fall year-on-year across all of our main cities. The median house price for Wellington has dropped below the $1M mark, sitting at $997K – further eroding the capital gains made over the past year.
How do we calculate these figures?
The homes.co.nz Monthly Property Update is generated using homes.co.nz’s monthly HomesEstimates and provides an up-to-date perspective on house values around New Zealand. By valuing the entire housing stock, the homes.co.nz Monthly Property Update can compare median values from month to month in a consistent and reliable way. Our HomesEstimates are calculated for almost every home in New Zealand by an algorithm that identifies the relationships between sales prices and the features of a property.
Established in 2013, homes.co.nz is NZ’s first free property information portal eager to share free property information to New Zealanders.
NZ’s First Home Buyer HomesEstimate
The “First Home Buyer HomesEstimate” is homes.co.nz’s estimate of what a typical first home may cost. It is calculated to be the lower quartile HomesEstimate in a town.
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