Dwelling Sale Prices:
This indicator shows the median prices of residential dwellings sold in each quarter. This median price series is not adjusted for size and quality of dwellings.
Prices are not presented in inflation adjusted terms with a base period of the most current period. Note that when we include the effects of inflation prices are lower in the past compared with unadjusted prices when viewed from today's prices.
This Ministry of Business, Innovation and Employment data is sourced from CoreLogic.
Dwelling Rental Prices:
This indicator reflects real mean rents as reported in new rental bonds lodged with the Ministry of Business, Innovation and Employment. The mean used is a geometric mean. The reason for using this mean is that rents cluster around round numbers and tend to plateau for months at a time (spiking up by say $10 or $20 at a time). This makes analysis of time series difficult and using the geometric mean is a way of removing this clustering effect.
Prices are not presented in inflation adjusted terms with a base period of the most current period. The data is for private bonds only and so excludes social housing.
Data is sourced from the Ministry of Housing and Urban Development.