582,000 of households in New Zealand are renters

Homeownership rates have fallen to a 60-year low and could fall further. Median house sale prices rose nationally by around 40% over the past 10 years and by 30% over the past five years.

Most existing houses are built of either timber (weatherboards) or brick cladding with timber framing. There are also some stucco and concrete block homes.

The average dwelling sold in Auckland over the past eight years was approximately 135 square metres (including integrated garages). Across all of New Zealand, new homes tend to be significantly larger than older homes1. Houses built in the 1970s were typically in the 110-120 square metre range.

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