Misc

New Zealand cities' cost of living soars

Auckland has leaped 35 places to 80th in a list of 144 of the world's most expensive cities, with the strong New Zealand dollar getting the blame.

Wednesday, June 16th 2004

The rise was the largest recorded for any city bar Sydney, which jumped 47 places to 20th in the Mercer Human Resources cost of living survey.

Wellington rose 31 places to 86.

"Cities in New Zealand and Australia have risen most in the rankings this year due to the significant appreciation of local currencies against the US dollar," Mercer principal Rob Knox said.

The survey was done in March using a New Zealand dollar value of 67.76USc. The kiwi has fallen since then and is now nearer 62.5USc. A even larger fall has occurred across the Tasman where the Australian dollar is now at 68.88USc from the 76.23USc used in the survey.

The Mercer survey covers 144 cities and measures the cost of more than 200 items including housing, food, clothing, transport and entertainment.

Read More - Opens in a new window

Most Read

Unity First Home Buyer special 3.99
SBS FirstHome Combo 3.99
ICBC 4.25
TSB Special 4.39
Co-operative Bank - First Home Special 4.39
SBS Bank Special 4.49
Unity Special 4.49
ANZ Special 4.49
Westpac Special 4.49
Kiwibank Special 4.49
Co-operative Bank - Owner Occ 4.49
Kainga Ora 4.49
ICBC 4.59
Nelson Building Society 4.67
Unity Special 4.69
ANZ Special 4.69
BNZ - Std 4.69
Wairarapa Building Society 4.79
Westpac Special 4.89
SBS Bank Special 4.89
Kiwibank Special 4.89
Co-operative Bank - Owner Occ 4.89
ICBC 4.99
Kainga Ora 5.15
Westpac Special 5.49
ASB Bank 5.69
TSB Special 5.69
BNZ - Std 5.69
SBS Bank Special 5.69
Co-operative Bank - Owner Occ 5.69
AIA - Go Home Loans 5.69
Kiwibank Special 5.79
China Construction Bank 5.99
SBS FirstHome Combo 3.29
AIA - Back My Build 3.34
SBS Construction lending for FHB 3.74
CFML 321 Loans 3.95
Co-operative Bank - Owner Occ 4.99
Co-operative Bank - Standard 4.99
Heartland Bank - Online 5.30
ICBC 5.39
Kiwibank - Offset 5.65
Kiwibank 5.65
Kainga Ora 5.69

More Stories

Wednesday, January 07th 2026

Queenstown not off the radar for first home buyers

First home buyers are not being deterred by Queenstown’s soaring house prices.

Record levels of first home buyers taking out low deposit loans

Tuesday, December 23rd 2025

Record levels of first home buyers taking out low deposit loans

About half of all first home buyer lending has been done at a less than 20% deposit in recent months.

Buyers sitting on the sidelines in best time to buy in a decade

Thursday, December 04th 2025

Buyers sitting on the sidelines in best time to buy in a decade

Stable house prices, low interest rates and plenty of houses to choose from are still not enticing buyers.

Differing views on 50-year mortgage

Tuesday, December 02nd 2025

Differing views on 50-year mortgage

US president Donald Trump recently raised the idea of 50 year mortgages; but New Zealand advisers say such long loans won’t take off in New Zealand.