Media release

3 July 2015

Auckland housing market similar to Sydney

The Ministry of Business, Innovation and Employment released the latest edition of the New Zealand Housing and Construction Quarterly today. This quarter’s report looks at how the Auckland housing market resembles international cities more than cities closer to home.

“Auckland’s housing market is driven by unique factors that don’t affect the rest of the country. Auckland’s large population, size and connections to multi-national businesses make it more similar to Melbourne and Sydney than Wellington and Christchurch, and the housing market reflects that,” says Bryan Field, MBIE’s Manager of Modelling and Sector Trends.

“This quarter we’ve also looked at housing turnover in Auckland using a new series of data. We’ve found that instances of properties being resold within two years have been rising for several years. Time will tell if this is a response to the heat in the housing market or if this is a more permanent trend,” says Mr Field.

The New Zealand Housing and Construction Quarterly publication can be downloaded from MBIE’s Building and Housing information website athttp://www.building.govt.nz/nz-housing-and-construction-quarterly

Accompanying the release of the New Zealand Housing and Construction Quarterly is a new set of online rental data tables. These can be downloaded at http://www.building.govt.nz/nz-housing-and-construction-quarterly-open-data

The next edition of the New Zealand Housing and Construction Quarterly will be released September 2015.

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