How does the Median House Price in NZ Compare Worldwide - Shopless blog
House prices are frequently a discussed topic in NZ. Both in the media and in conversation. In Core Logic’s recent property analysis report. They stated the median house price in New Zealand was now $795,000. Obviously the median price in various cities differ from this amount. Some sources even suggest that the median house price is even higher at $937,000. But how do we compete on the world stage?
Some immigrants agree that our house prices are soaring. While others have suggested that kiwi’s expectations of what they want in a house is different than larger more populated countries. Shopless has done a breakdown of median house prices worldwide. To give you an idea of how New Zealand competes on the world stage.
What will the median house price of $795,000 buy in NZ?
The quality of home, and what a purchaser desires is different in different parts of New Zealand. In NZ there are a variety of houses on the market within this price range. However there are some essentials that seem to be popular in kiwi homes. The average NZ purchaser enjoys some form of garden, or space outside.
Kiwis enjoy a mix of potential renovations, as well as house and land packages. The most common house styles on the market are as follows: A Classic Villa – these homes have generally been around since the early 1900’s. They offer a potential reno opportunity, or have already been done up. Art Deco Style – popular in the 80’s but can be seen across New Zealand. The State House – these are previous state housing that have either been renovated or offer the opportunity for DIY. Modern Housing options – new builds in suburbia or a more modern approach.
The average house size in New Zealand is 156 square meters.
What is the median house price in America?
The average house price in America is $200,000 (USD). The equivalent to approximately $281,000 NZD. Due to the sparseness of the country this could get you a variety of options for this median. In some states this might purchase a medium size, early 1900s home. With a moderate garden.
While in other states for this amount you could get a 170 square metre home. New to recent builds. Americans seem to like large homes. So across the country if you are looking within their median price range.You will most likely find a decent size, individual home.
What is the median house price in Brazil?
Brazil has a country average house price of 318,600 BRL. This is the equivalent of $80,700NZD. A high end property could cost you 748,700 BRL, which is $190,000NZD. Most housing in Brazil is apartment style. So a high end apartment might be a 1109 square-foot two bedroom apartment. Slightly different from the kiwi ideal, but significantly different in price point.
What is the median house price in Germany?
An average house size in Germany boasts a space of approximately 140 square metres. The cost of the median house in Germany is 376,000euros. The equivalent of $610,000 NZD. The house situation in Germany is slightly different in that the demand tends to be in more populated, higher density areas. With housing that accommodates this factor. However there is a range of housing options available at this price point.
What is the median house price in South Africa?
The standard home size in South Africa is between 80 -140square metres. And it is estimated that approximately 60% of the eligible population own their own home. The house prices median is approximately ZAR 937,000. This works out to be $87,450 in New Zealand.
What is the median house price in Australia?
Our Aussie neighbours could be the closest to us in terms of what they desire in a home. Although many of their cities are more densely populated than ours. In the latest property figures of 2021. They stated that the country’s median is $937,000 AUD. Approximately $974,700 NZD. A close equivalent to our own current trajectory for prices.
The Shopless team has picked a variety of median house prices from around the world. To give you an idea of international house prices. And what you could get for that median. We have not taken into account the average salary. However we have tried to include countries from various continents. To give more of an idea of what international buyers are purchasing. In their countries. So if you are looking for a new home. Or looking to browse the latest kiwi properties. Make sure to check out the properties in our latest listings here.