Is your house earning more than you?

It is quite likely your house has earned more than you over the past 12 months, as the median house price for New Zealand increased by $161,700, while the average household income across the country was $97,760, according to Ray White chief economist Nerida Conisbee.

Ms. Conisbee said the likelihood of your home being the best income earner in your household is higher if you are in Auckland.

“Over the past 12 months, Auckland’s median house price increased by $309,000,” she said.

“At the same time, the annual median household income was $107,692.

“The only city in New Zealand where the people that live in the house were earning more than the house in 2021 was in Dunedin – the median increased by $55,000 compared to household incomes of $84,136.”

By suburb, Ms. Consibee said the increases become starker.

The suburbs with the biggest gap between median household income and house price rise growth were primarily in Auckland.

While the median household income in Auckland was $107,692 in 2021, houses in Dairy Flat increased by $1.65 million – more than 15 times the median household income.

Coming in second was Omaha followed by Westmere.