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Tāmaki Makaurau-Auckland’s tale of two markets:
Auckland property splits: Central apartment prices surge 26% while luxury homes cool amid buyer affordability shifts.
AI summary
Auckland’s property market is a tale of two markets, driven by affordability. Apartment prices in Auckland City have surged 26% year-on-year, while large family homes have seen prices drop 9%.
This shift is pushing first-home buyers and investors towards more affordable urban dwellings. Sellers of high-end properties are advised to set realistic price expectations in the current climate, as buyers remain cautious with larger mortgages.
The numbers: Apartments surge while luxury homes soften
Higher density living in Auckland, with apartments, townhouses and units all recording increases in the average asking price.
Affordability appears to be reshaping buyer demand
What this means for buyers and sellers in Tāmaki Makaurau-Auckland
Practical checklist for apartment buyers
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