New Zealand house prices soar despite Covid recession, worsening affordability crisis

Published Oct 29 2020 at 1:17 AM GMT
  • Property market posted an 11% rise in median values, masking rising homelessness and a widening social divide, critics say New Zealand house prices have defied the Covid-19 recession and soared to record levels, prompting warnings that the hot property market will damage the country's long-term economic wellbeing and widen inequality.
  • New Zealand, which already had some of the most unaffordable housing in the world, saw median prices rise 11.1 % in the year to September, while the median price in Auckland reached nearly $1m (US$660,000).
  • Prices rose 2 5% across the country in September compared with August.



  • Published Oct 29, 2020 1:17 AM GMT