How do NZ house prices compare with Australia?
House prices after inflation were 27.1% above their 2015 level in New Zealand and 31.8% above in Australia in Mar 2026 qtr (OECD; each country's 2015 index = 100). This compares price growth, not dollar prices.
Updated
Inflation-adjusted house price indexes from the OECD for New Zealand, Australia, the UK, Canada, the US and the OECD as a whole, quarterly from 1990 (2015 = 100).
Indexes show change over time within each country (2015 = 100); they do not show which country's houses cost more. Real = deflated by each country's consumer prices.
A regional rent can change when the mix of newly rented properties changes. The national median gives the middle rent across new rentals, with half above it and half below it.
Read the period beside each number before comparing it with another figure. A monthly observation, a quarterly result and a financial year cover different spans of time. The latest release can also revise earlier observations. The chart and downloads keep the published periods so you can check which figures are being compared. A change in house prices describes what happened during that period; it does not by itself explain why it happened or identify the effect of a government policy. Definitions and coverage matter as much as the size of a change.
New Zealand was 131.3 index in Mar 2025 qtr, a year earlier.
The earliest observation on the same basis was 35.2 index in Mar 1990 qtr.
House prices: definitions
Inflation-adjusted house price indexes from the OECD for New Zealand, Australia, the UK, Canada, the US and the OECD as a whole, quarterly from 1990 (2015 = 100).
- Indexes show change over time within each country (2015 = 100); they do not show which country's houses cost more.
- Real = deflated by each country's consumer prices.
Show the figures
| Period | New Zealand (index) |
|---|---|
| Mar 2026 qtr | 127.1 |
| Dec 2025 qtr | 127.8 |
| Sep 2025 qtr | 129.7 |
| Jun 2025 qtr | 131.0 |
| Mar 2025 qtr | 131.3 |
| Dec 2024 qtr | 132.6 |
| Sep 2024 qtr | 133.7 |
| Jun 2024 qtr | 136.0 |
| Mar 2024 qtr | 137.7 |
| Dec 2023 qtr | 138.1 |
| Sep 2023 qtr | 138.1 |
| Jun 2023 qtr | 138.3 |
| Mar 2023 qtr | 138.9 |
| Dec 2022 qtr | 144.3 |
| Sep 2022 qtr | 151.7 |
| Jun 2022 qtr | 160.9 |
| Mar 2022 qtr | 167.5 |
| Dec 2021 qtr | 173.0 |
| Sep 2021 qtr | 167.7 |
| Jun 2021 qtr | 162.1 |
Calendar quarters. Source: OECD. Lines break at basis changes and missing periods.
House prices: questions for your AI
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The attached CSV is Real house prices: NZ and other countries, from OECD. Answer: How do NZ house prices compare with Australia? Name the unit and period. Use only directly supported observations. Definitions: Inflation-adjusted house price indexes from the OECD for New Zealand, Australia, the UK, Canada, the US and the OECD as a whole, quarterly from 1990 (2015 = 100). Limits: Indexes show change over time within each country (2015 = 100); they do not show which country's houses cost more. Real = deflated by each country's consumer prices.
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House prices: sources
The source publication, licence and snapshot used to build this page.
- Organisation
- OECD, Analytical house prices indicators
- Licence
- OECD Terms and Conditions (Data), reuse including commercial with citation. OECD (2026), Analytical house prices indicators, OECD Data Explorer, https://data-explorer.oecd.org/ (accessed on 10 October 2026). Figures selected and transformed by NZ in Numbers. Anyone reusing these figures must keep this OECD citation.
- Reuse limits
- Some OECD datasets include third-party material with its own terms; check the OECD terms page before monetising.
- Snapshot
- data/raw/oecd-house-prices/2026-10-10_c0fd88c65b58.csv
- SHA256
- c0fd88c65b58b47a6d5827a3ad1ddde7e82ea46988090c43bb366d893357f955
- Retrieved
- 10 October 2026