10 most affordable suburbs in Auckland

It’s not all doom and gloom, with evidence that prices are slowing across all property types – apartments, houses, units, and townhouses, as of February and have dropped slightly in Auckland. According to Trade Me data, national demand is down 11% year on year, In Auckland, demand has dropped even further, by 19%. At the same time, supply has increased by 22%, suggesting Aotearoa is transitioning into a buyers’ market.

While this doesn’t change the fact that prices are still unsustainably high, it will hopefully provide some relief to buyers struggling to get on the housing ladder, or those wishing to take that next step without being saddled with debt.

Can we continue to use the word ‘affordable’ when describing property in NZ, one of the world's hottest markets? It’s controversial, especially in Auckland where prices have reached record heights, compared to NZs other major centres. It’s widely accepted that affordable housing is defined by falling within the government house price caps, which currently sit at $700,000 in Auckland.

Unsurprisingly, buyers are struggling to find housing that falls below the $700,000 affordable price cap, due mainly to the highly-priced stand-alone home market – which makes up almost 80% of property demand.

“First home buyers are facing a real shortage of affordable stock,” says First Home Buyers Club Spokesperson, Lesley Harris.

“I challenge anyone to find a single property apart from an apartment at this price,” says Lesley. At the moment, 5% to 10% of first home buyers are eligible for that grant. You want this to be 95%, she says.

Prices reflect this demand, with the average asking price for a stand-alone home at $1.4 million. Townhouses come in a close second, having crept over the $1 million mark, now sitting at $1,080,000, and units and apartments, although still under the $800k mark, have experienced a 22% and 6% price jump respectively.

Urban properties (apartments, townhouses, and units) will continue to make up NZ’s affordable housing stock, especially as the country moves towards high-density living.

Despite being the most affordable, these suburbs have experienced high levels of capital growth over the past two years. Most properties in this list lie further afield, with a few exceptions.

Unsurprisingly, City Centre is still the least expensive suburb, due to its large number of small apartments. While this won’t be suitable for families, single buyers or young couples may find bang for their buck here. Keep in mind the comparatively low capital growth apartments see compared to other property types.

Similarly, Manukau has a large number of apartments, keeping the average price down when compared to neighbouring suburbs.

Prices in Auckland’s Waitakere district have been historically low compared to other districts, until 2020. Most suburbs have now climbed above the $1 million mark, except for Henderson Valley. Steeped in natural beauty, keen first home buyers could still find a bargain like the one below.

A mini suburb west of Manurewa, steeped in diversity and culture. Buyers will find a blend of old and new stand-alone homes, so it's certainly one for first home buyers to keep an eye on! 

Sitting on the Waikato/Auckland border, this suburb supports local farmers and still sits far enough out of Auckland CBD to have experienced slow population growth over the past 10 years.

This eastern suburb is located near Manurewa and Clendon Park. A number of community-lead projects have transformed it into a thriving suburb, with all the amenities and local parks you'll ever need. 

The last stop before Northland, Wellsford comes in under $1 million. Buyers will find a suite of stand-alone homes but will need to prepare for a hefty commute.

This isn’t to say that bargains don’t exist in other suburbs, in fact, many now boast affordable housing developments, specifically targeted toward first home buyers and usually priced within the $700-$800k price range. Bear in mind, these often come with strict criteria such as: