NZ Herald
  • Home
  • Latest news
  • Herald NOW
  • Video
  • New Zealand
  • Sport
  • World
  • Business
  • Entertainment
  • Podcasts
  • Quizzes
  • Opinion
  • Lifestyle
  • Travel
  • Viva
  • Weather

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • New Zealand
    • All New Zealand
    • Crime
    • Politics
    • Education
    • Open Justice
    • Scam Update
  • Herald NOW
  • On The Up
  • World
    • All World
    • Australia
    • Asia
    • UK
    • United States
    • Middle East
    • Europe
    • Pacific
  • Business
    • All Business
    • MarketsSharesCurrencyCommoditiesStock TakesCrypto
    • Markets with Madison
    • Media Insider
    • Business analysis
    • Personal financeKiwiSaverInterest ratesTaxInvestment
    • EconomyInflationGDPOfficial cash rateEmployment
    • Small business
    • Business reportsMood of the BoardroomProject AucklandSustainable business and financeCapital markets reportAgribusiness reportInfrastructure reportDynamic business
    • Deloitte Top 200 Awards
    • CompaniesAged CareAgribusinessAirlinesBanking and financeConstructionEnergyFreight and logisticsHealthcareManufacturingMedia and MarketingRetailTelecommunicationsTourism
  • Opinion
    • All Opinion
    • Analysis
    • Editorials
    • Business analysis
    • Premium opinion
    • Letters to the editor
  • Politics
  • Sport
    • All Sport
    • OlympicsParalympics
    • RugbySuper RugbyNPCAll BlacksBlack FernsRugby sevensSchool rugby
    • CricketBlack CapsWhite Ferns
    • Racing
    • NetballSilver Ferns
    • LeagueWarriorsNRL
    • FootballWellington PhoenixAuckland FCAll WhitesFootball FernsEnglish Premier League
    • GolfNZ Open
    • MotorsportFormula 1
    • Boxing
    • UFC
    • BasketballNBABreakersTall BlacksTall Ferns
    • Tennis
    • Cycling
    • Athletics
    • SailingAmerica's CupSailGP
    • Rowing
  • Lifestyle
    • All Lifestyle
    • Viva - Food, fashion & beauty
    • Society Insider
    • Royals
    • Sex & relationships
    • Food & drinkRecipesRecipe collectionsRestaurant reviewsRestaurant bookings
    • Health & wellbeing
    • Fashion & beauty
    • Pets & animals
    • The Selection - Shop the trendsShop fashionShop beautyShop entertainmentShop giftsShop home & living
    • Milford's Investing Place
  • Entertainment
    • All Entertainment
    • TV
    • MoviesMovie reviews
    • MusicMusic reviews
    • BooksBook reviews
    • Culture
    • ReviewsBook reviewsMovie reviewsMusic reviewsRestaurant reviews
  • Travel
    • All Travel
    • News
    • New ZealandNorthlandAucklandWellingtonCanterburyOtago / QueenstownNelson-TasmanBest NZ beaches
    • International travelAustraliaPacific IslandsEuropeUKUSAAfricaAsia
    • Rail holidays
    • Cruise holidays
    • Ski holidays
    • Luxury travel
    • Adventure travel
  • Kāhu Māori news
  • Environment
    • All Environment
    • Our Green Future
  • Talanoa Pacific news
  • Property
    • All Property
    • Property Insider
    • Interest rates tracker
    • Residential property listings
    • Commercial property listings
  • Health
  • Technology
    • All Technology
    • AI
    • Social media
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology
    • Opinion
    • Audio & podcasts
  • Weather forecasts
    • All Weather forecasts
    • Kaitaia
    • Whangārei
    • Dargaville
    • Auckland
    • Thames
    • Tauranga
    • Hamilton
    • Whakatāne
    • Rotorua
    • Tokoroa
    • Te Kuiti
    • Taumaranui
    • Taupō
    • Gisborne
    • New Plymouth
    • Napier
    • Hastings
    • Dannevirke
    • Whanganui
    • Palmerston North
    • Levin
    • Paraparaumu
    • Masterton
    • Wellington
    • Motueka
    • Nelson
    • Blenheim
    • Westport
    • Reefton
    • Kaikōura
    • Greymouth
    • Hokitika
    • Christchurch
    • Ashburton
    • Timaru
    • Wānaka
    • Oamaru
    • Queenstown
    • Dunedin
    • Gore
    • Invercargill
  • Meet the journalists
  • Promotions & competitions
  • OneRoof property listings
  • Driven car news

Puzzles & Quizzes

  • Puzzles
    • All Puzzles
    • Sudoku
    • Code Cracker
    • Crosswords
    • Cryptic crossword
    • Wordsearch
  • Quizzes
    • All Quizzes
    • Morning quiz
    • Afternoon quiz
    • Sports quiz

Regions

  • Northland
    • All Northland
    • Far North
    • Kaitaia
    • Kerikeri
    • Kaikohe
    • Bay of Islands
    • Whangarei
    • Dargaville
    • Kaipara
    • Mangawhai
  • Auckland
  • Waikato
    • All Waikato
    • Hamilton
    • Coromandel & Hauraki
    • Matamata & Piako
    • Cambridge
    • Te Awamutu
    • Tokoroa & South Waikato
    • Taupō & Tūrangi
  • Bay of Plenty
    • All Bay of Plenty
    • Katikati
    • Tauranga
    • Mount Maunganui
    • Pāpāmoa
    • Te Puke
    • Whakatāne
  • Rotorua
  • Hawke's Bay
    • All Hawke's Bay
    • Napier
    • Hastings
    • Havelock North
    • Central Hawke's Bay
    • Wairoa
  • Taranaki
    • All Taranaki
    • Stratford
    • New Plymouth
    • Hāwera
  • Manawatū - Whanganui
    • All Manawatū - Whanganui
    • Whanganui
    • Palmerston North
    • Manawatū
    • Tararua
    • Horowhenua
  • Wellington
    • All Wellington
    • Kapiti
    • Wairarapa
    • Upper Hutt
    • Lower Hutt
  • Nelson & Tasman
    • All Nelson & Tasman
    • Motueka
    • Nelson
    • Tasman
  • Marlborough
  • West Coast
  • Canterbury
    • All Canterbury
    • Kaikōura
    • Christchurch
    • Ashburton
    • Timaru
  • Otago
    • All Otago
    • Oamaru
    • Dunedin
    • Balclutha
    • Alexandra
    • Queenstown
    • Wanaka
  • Southland
    • All Southland
    • Invercargill
    • Gore
    • Stewart Island
  • Gisborne

Media

  • Video
    • All Video
    • NZ news video
    • Herald NOW
    • Business news video
    • Politics news video
    • Sport video
    • World news video
    • Lifestyle video
    • Entertainment video
    • Travel video
    • Markets with Madison
    • Kea Kids news
  • Podcasts
    • All Podcasts
    • The Front Page
    • On the Tiles
    • Ask me Anything
    • The Little Things
  • Cartoons
  • Photo galleries
  • Today's Paper - E-editions
  • Photo sales
  • Classifieds

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In
Advertisement
Advertise with NZME.
Home / New Zealand

House prices rise almost $100 a day

Alanah Eriksen
By Alanah Eriksen
Managing Editor - Live News·NZ Herald·
13 Jun, 2014 05:00 PM4 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

Photo / Dean Purcell

Photo / Dean Purcell

Daily wages eclipsed as relentless rise of home values in growth regions outstrips pay packets

The average New Zealand house price rose by $98 a day or nearly $700 a week over the past year, a new analysis shows.

That means that many homeowners earned just $21 more than their house did in a day - the latest Statistics NZ figures show Kiwis earned a median daily wage of $119 (based on a seven-day week).

But in some areas, such as the North Shore, prices surged even higher - to $289 a day, or $2028 a week - with houses earning $163 more than they did in a day (Aucklanders earned a median daily wage of $126).

The daily cost dropped in less thriving areas around the country, including Taupo, by $7 a day.

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

In Wellington, it rose just $22 a day.

The Herald compared Quotable Value's average residential house values for May to the same month last year, breaking it down into days, weeks and months.

Between the same two months in 2010 and 2011 - before house prices started skyrocketing - national daily prices dropped $104.

The daily cost in the Auckland region rose by $16 a day, and by $18 a day on the North Shore.

Advertisement
Advertise with NZME.

It dropped $43 in Wellington.

The average price in New Zealand is now $471,791, up from $436,097 last May.

The wider Auckland region is now $713,709, but sits at $842,769 in Auckland city and $849,285 on the North Shore.

Barfoot & Thompson real estate agent Bruce Murtagh wasn't surprised at the sharp rise, which he put down to Auckland's lack of stock.

Discover more

Official Cash Rate

Rate hike in July on cards

12 Jun 05:00 PM
Business

Where house prices go - so do rates

12 Jun 05:00 PM
Banking and finance

Dollar soars after RBNZ confirms rate hike path

12 Jun 09:05 PM
New Zealand

Housing price war favours rail town

13 Jun 06:00 PM

"The market certainly has gone up, but it's supply and demand.

"There is never huge amounts of supply in the winter."

He said suburbs that were growing sharply fell outside the most expensive area like Herne Bay and Ponsonby. Avondale, Blockhouse Bay and New Windsor were fast risers.

"If you were to buy in Avondale a year ago, you'd probably have got a house on a full site for $530,000, now it's probably $630,000."

He sold a 42sq m unit in Herne Bay - smaller than many apartments - for more than Wellington's national average house price of $452,099. It went for $459,000 - $154,000 above its valuation. "It did surprise me a little bit," Mr Murtagh said.

On the market for the first time in 30 years, the 1960 one-bedroom brick property at 1/26 West End Rd, Herne Bay is on a cross-lease title and is the front unit in a block of four.

Advertisement
Advertise with NZME.

But it has an off-street park, is just a stroll to Jervois Rd, backs onto Bayfield Park and character units were sought after, Mr Murtagh said.

"Not many units come up. If you get something that's from the 1960s, it's always going to go well."

He said the owner had put a new bathroom in, painted the walls and polished the floors before the sale.

Despite strong prices sought by sellers, buyer interest is still high according to realestate.co.nz - which lists 96 per cent of all homes for sale.

Marketing manager Paul McKenzie said there were 10,745 new house listings in May, a 5 per cent increase on April.

It was similar levels to last year, but some regions experienced a drop, such as the Waikato, which was down 19 per cent.

Advertisement
Advertise with NZME.

"The good news for buyers is that the available stock of houses for sale is steadily recovering from the historic low levels of August last year," Mr McKenzie said.

Visitor traffic to the site had risen 50 per cent over the past 12 months, he said.

Harcourts chief executive Hayden Duncan said sale numbers had dropped while the average asking price was rising in many of the provinces - an indication that mortgage-lending restrictions were affecting entry-level buyers.

The limits, which were brought in on October 1 and stop most buyers securing a mortgage without a 20 per cent deposit, should be removed to help first-home buyers achieve the "Kiwi dream of home ownership".

Save

    Share this article

Latest from New Zealand

Premium
Opinion

Simon Wilson's Love this City: Dogs, dogs, dogs! (and cheaper public transport)

20 Jun 05:00 PM
New Zealand

'Buzzing': Lotto fever grips NZ ahead of $30m Powerball draw, queues expected

20 Jun 05:00 PM
Premium
New Zealand

Peeping drones? 54% increase in incidents amid privacy fears

20 Jun 05:00 PM

Jono and Ben brew up a tea-fuelled adventure in Sri Lanka

sponsored
Advertisement
Advertise with NZME.

Latest from New Zealand

Premium
Simon Wilson's Love this City: Dogs, dogs, dogs! (and cheaper public transport)

Simon Wilson's Love this City: Dogs, dogs, dogs! (and cheaper public transport)

20 Jun 05:00 PM

Opinion: The council's new plans for dog walking are coming to a showdown.

'Buzzing': Lotto fever grips NZ ahead of $30m Powerball draw, queues expected

'Buzzing': Lotto fever grips NZ ahead of $30m Powerball draw, queues expected

20 Jun 05:00 PM
Premium
Peeping drones? 54% increase in incidents amid privacy fears

Peeping drones? 54% increase in incidents amid privacy fears

20 Jun 05:00 PM
Premium
Why are we cutting our babies' tongues? Warning as surgeries on newborns triple

Why are we cutting our babies' tongues? Warning as surgeries on newborns triple

20 Jun 05:00 PM
Help for those helping hardest-hit
sponsored

Help for those helping hardest-hit

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • NZ Herald e-editions
  • Daily puzzles & quizzes
  • Manage your digital subscription
  • Manage your print subscription
  • Subscribe to the NZ Herald newspaper
  • Subscribe to Herald Premium
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP