How much is a 20% deposit in your favourite Auckland suburb?

Hand holding magnifying glass

How much are you prepared to drop on a home? We all know it's an arm and a leg and then some at this point, but how much exactly? As Auckland lumbers towards a supply shortage without a definitive end in sight, it' good to take stock of just how much you have to pay to enter the housing market in certain areas.

For investors, it's a little easier as you can already leverage equity. But for first home buyers, you'll have to put together savings and perhaps even use guarantors to make it happen - so how much do you need in certain areas of the Super City?

North Shore

Under current Reserve Bank restrictions, only 10 per cent of owner-occupier home loans can have deposits of less than 20 per cent. For property investment loans, this pushes up: only 5 per cent of lending can be with a deposit of less than 30 per cent.

As of January 31st, QV listed the average value of North Shore property at $1,079,445. This makes a 20 per cent deposit $215,889 - more than most of us are going to make in the next couple of years, really.


It isn't as expensive to buy in some other areas of Auckland - take Manukau, for instance. The QV average value there is $792,505 which brings the minimum deposit to $158,501. This is pushed up significantly by Manukau East's average value being above the million dollar mark though. In the central and northwestern areas of Manukau, values skew closer to $600,000.

It's important to remember that these are averages as well, and there will always be real estate either side of these benchmarks - you've just got to put in the hard yards to find it.


Franklin had the lowest average value recorded by QV at the end of January, sitting at the comparatively cheap-as-chips level of $584,173. Of course, it's quite a way out, which is the big tradeoff. But with a 20 per cent deposit sitting at $116,834 it could be a less painful entry point for low-income first time buyers.

Whatever your financial setup, it's imperative to get the right mortgage advice. You might want to be an owner-occupier, or perhaps a first time investor that goes on to rent in the city. It's going to depend entirely on your situation - give the team at Squirrel a call to see how you could access the market.