The strongest ten-year growth across New Zealand’ s regional markets occurs in the most affordable luxury markets.
Southland($ 1.17 million) and West Coast($ 950,000) have both more than doubled over the decade, likely reflecting buyers priced out of major centres seeking premium lifestyle value at lower entry points.
Auckland tells the opposite story.
Despite carrying the second-highest luxury price point in the country at $ 2.50 million, the region has delivered just 4.40 per cent growth over ten years, including a 2.30 per cent decline in the past year. In real terms, Auckland’ s luxury market has lost ground over the decade.
Among regions clustered in the $ 1.30 million to $ 1.70 million luxury band, annual performance has been uneven. Northland has recorded the strongest gains, while Hawke’ s Bay has seen the sharpest declines.
The national luxury median of $ 1.93 million is therefore less a market than an average of increasingly divergent local stories – a figure that masks the widening gap between a fast-moving Queenstown basin and an Auckland prestige market that has remained comparatively subdued for much of the past decade. At a suburban level, those differences become even more pronounced.
RAY WHITE NOW NEW ZEALAND | 11