New Zealand house prices: a historical perspective

Elizabeth Kendall
Additional contact information
Elizabeth Kendall: Reserve Bank of New Zealand, http://www.rbnz.govt.nz

Reserve Bank of New Zealand Bulletin, 2016, vol. 79, No 1, 14 pages

Abstract: Over the past three years, house prices have increased 52 percent in Auckland, but only 11 percent in the rest of New Zealand. Regional variation in house price inflation is not unusual, but the extent of the current divergence between house prices in Auckland and the rest of the country is unprecedented. Historically, Auckland house prices have trended upwards relative to those in the rest of New Zealand. But in instances when they have deviated significantly from house prices elsewhere, this divergence has subsequently reversed to some extent. Correction has occurred both via prices in the rest of New Zealand catching up to those in Auckland, and by Auckland prices falling to levels more consistent with those elsewhere.

Date: 2016
References: Add references at CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
http://www.rbnz.govt.nz/-/media/ReserveBank/Files/ ... 2016/2016jan79-1.pdf

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nzb:nzbbul:jan2016:01

Access Statistics for this article

More articles in Reserve Bank of New Zealand Bulletin from Reserve Bank of New Zealand Contact information at EDIRC.
Bibliographic data for series maintained by Reserve Bank of New Zealand Knowledge Centre ().