LAST UPDATED: Q1 2026
Valuation Monitor
Yields, Spreads & Peak Discount Analysis
VALUATION METRICS
AUCKLAND P/R RATIO
~21x
Elevated
NATIONAL YIELD
4.12%
2025
YIELD SPREAD vs OCR
+0.87%
Positive
AUCKLAND vs PEAK
-18%
From Nov 2021 peak
CHRISTCHURCH vs PEAK
-NZ$4K
Near peak
NATIONAL vs PEAK
-9%
Recovering
Distance from Peak Price
% below peak median by region
Yield vs OCR
Gross rental yield vs Official Cash Rate
APAC Price-to-Income Ratio
Median house price / median household income