A decade of shifting housing priorities
Atom Go Tian Senior Data Analyst Ray White Group
Over the past two decades , New Zealand ’ s housing market has experienced a remarkable shift , particularly across different price segments . This analysis delves into three key market segments : the affordable ( properties prices within the bottom 10 per cent of the market ), the median , and the luxury ( houses priced in the top 10 per cent of the market ).
From 2004 to 2024 , the affordable market segment saw occasional price rises followed by stabilisation . The market , while fluctuating , remained relatively balanced across all price points . However , the last decade has brought a dramatic shift . Affordable homes more than doubled in value during this time . Meanwhile , the median and luxury segments saw strong growth in the first half of the decade , but their momentum slowed and even reversed after 2020 .
Source : Ray White Economics
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