The National Median Household Income (MHI) in 2010 was around $58,000 and has risen over the next 13 years to around $99,000.  We can see that Mount Maunganui has consistently had higher house prices than other areas of the Bay of Plenty, with Eastern Bay of Plenty and Rotorua being consistently low.  All areas have fallen since 2022.

 

 

 

To show house affordability, we have used a House Price to MHI Ratio so you can compare cities within Bay of Plenty. We have divided the median house prices in each area of Bay of Plenty by the MHI to create a ratio index number for that area. 

 

In 2023, Mount Maunganui continued to be the least affordable suburb, with house prices reaching 9.26 the MHI, with Eastern Bay of Plenty and Rotorua being most affordable at 6.12 times the MHI and 6.16 times the MHI respectively.

 

 

 

We have also analysed some local Tauranga suburbs to show house affordability in greater detail, with Welcome Bay being the most affordable of those analysed, and downtown Mount Maunganui being the least affordable place to buy. Both Greerton and Papamoa show a large ratio increase from 2020 - 2021 by comparison to previous growth.  

 

 

 

Further illustration can be shown by comparison to other major economies.  We have compared New Zealand Median Multiples with the countries below: