The average asking price has stagnated at around the $1.25 million mark, meaning a hefty $250k deposit is required to secure an average home in Auckland.
Prices are slowing across all property types - apartments, houses, units, and townhouses as of March and have dropped slightly in Auckland.
New Zealand (NZ) is one of the world's hottest markets, especially in Auckland where prices have reached record heights compared to NZs other major cities. so affordable housing is defined as falling within the government house price caps, which currently sit at $700,000 in Auckland.
Top 10 Most Affordable Suburbs in Auckland
1) City Centre ($546,000)
City Centre is still the least expensive suburb due to its large number of small apartments.
2) Manukau ($765,000)
Manukau has a large number of apartments keeping the average price down when compared to neighbouring suburbs.
Manukau is a busy area with retail outlets like the huge Westfield Manukau City and Manukau Supa Centa malls, offering fashion, homewares, and casual eateries. Rainbow's End theme park is popular for its costumed characters and rides, while the nearby Vodafone Events Centre hosts major expos and concerts. Held at Manukau Sports Bowl, the annual Polyfest cultural festival celebrates New Zealand's Polynesian heritage.
3) Henderson Valley ($868,430)
Prices in Auckland's Waitakere district have been historically low compared to other districts. Most suburbs have now climbed above the $1 million mark, except Henderson Valley.
Henderson Valley is a locality in West Auckland, New Zealand. The major road in the locality is Henderson Valey Road, and Scenic Drive is on the western boundary.
4) Clendon Park ($886,189)
Clendon Park is steeped in diversity and culture. Buyers will find a blend of old and new stand-alone homes.
Clendon Park is a suburb of Auckland in northern New Zealand. It is located to the west of Manurewa and north of Weymouth. The suburb is in the Manurewa-Papakura ward, one of the 21 local boards of Auckland Council.
5) Tuakau ($895,669)
Tuakau supports local farmers and still sits far enough out of Auckland CBD to have experienced slow population growth over the past 10 years.
Tuakau is a town in the Waikato region at the foot of Bombay hills, formerly part of the Franklin district until 2010, when it became part of the Waikato District in the North Island of New Zealand. The town is the residence of many employees of New Zealand Steel at Glenbrook.
6) Randwick Park ($897,158)
Randwick Park, this eastern suburb is located near Manurewa and Clendon Park. A number of community-led projects have transformed it into a thriving suburb, with all amenities and local parks you'll ever need.
7) Waiuku ($901,471)
Waiuku will take you one hour (traffic permitting) to drive there from the CBD, hence the slightly lower average prices.
Waiuku is a rural town in the Auckland Region on the North Island of New Zealand. It is located at the southern end of the Waiuku River, which is an estuarial arm of the Manukau Harbour, and lies on the Isthmus of the Awhitu Peninsula, which extends to the northeast.
8) Newmarket ($907,945)
NZs premier retail and hospitality hub, with a high density of shopping outlets and high-end eateries.
Newmarket is an upscale retail district with designer fashion boutiques and shoe stores along Nuffield Street and Broadway and at the stylish Westfield Newmarket mall.
9) Eden Terrace ($908,969)
Auckland region's second smallest suburb is situated close to Kingsland and K Road, making it the ideal city-fringe location. You will find a high volume of apartments in Eden Terrace as well as quirky eateries.
Eden Terrace is an inner-city suburb of Auckland, located 2 km south of the Auckland CBD in the North Island of New Zealand. Eden Terrace is one of Auckland's oldest suburbs, and also one of the smallest at just 47 hectares only Newton is smaller. Eden Terrace is under the governance of the Auckland Council.
10) Wellsford ($913,816)
Buyers will find a suite of stand-alone homes but will need to prepare for a hefty commute.
Wellsford is a town on the Northland Peninsula in the northern North Island of New Zealand. It is the northernmost major settlement in the Auckland Region and is 77 kilometres northwest of the Auckland CBD.
 |
| Source: Visitwellsford.co.nz |