New Zealand ’ s next million-dollar suburbs
Atom Go Tian Senior Data Analyst Ray White Group
Many Kiwi suburbs passed the million-dollar mark long ago . However , affordable housing remains front-and-centre , with the potential for capital appreciation a critical consideration for purchasers doing their sums .
Ray White Group senior data analyst Atom Go Tian asks where New Zealand ’ s house prices are projected to exceed $ 1 million in 2025 .
“ First , let ’ s consider where these suburbs are at the moment and how they ’ ve been growing over the past five years ,” he says .
As of May 2024 , there were 562 suburbs in New Zealand with a median house price of at least $ 1 million . More than half ( 54 per cent ) of these are in Auckland , compared to Wellington ’ s 36 and Christchurch ’ s 21 .
“ Of particular interest , however , is that while the number of $ 1 million suburbs has indeed seen a significant increase compared to five years ago , this growth appears to have slowed down over the past 12 months .
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