Prices for homes in New Zealand vary considerably, whether you are renting or buying. A lot depends on where in the country they are - homes in Auckland, for example, are generally more expensive than homes in Wellington. Costs will also vary within an area.
The table below gives a breakdown of the median house prices in five areas of greater Auckland. From these we can estimate you borrowing potential and earnings required.
Auckland
Area |
Median
House Price |
Minimum
Deposit Required |
Likely
Maximum Borrowing |
Required
Earnings |
| North |
571,000 |
28,550 |
542,450 |
143,505 |
| South |
355,000 |
17,750 |
337,250 |
89,220 |
| West |
399,000 |
19,950 |
379,050 |
100,278 |
| East |
531,000 |
26,550 |
504,450 |
133,452 |
| Central |
640,000 |
32,000 |
608,000 |
160,847 |
|
For a detailed analysis of possible borrowings, repayments and earnings requirements based on your own circumstances, please use our Mortgage Calculators:
How much can I borrow?
How much will the repayments be?
How much do I need to earn?
A word about school zones
Every child living within a state school’s zone is entitled to enroll there. If a school has places left after accommodating all children within its zone may it enroll children from other zones. Even then certain children have priority and the remaining few places are allocated by lottery.
New Zealand has strong demographic clusters whereby people of similar socioeconomic status and ethnicity tend to live near each other. This means that some school zones consist entirely of high cost housing, sometimes driven even higher by families seeking enrolment at the school of their choice.
