New Zealand homeowners are paying steep premiums for extra bedrooms, with new data showing the jump in asking prices can be as high as NZD$1 million* in some regions.
Figures from property website realestate.co.nz reveal that nationally, the average asking price rises 32 per cent when moving from a one to a two-bedroom home, and 31 per cent from two to three bedrooms.
The gap continues to widen for larger properties, with prices 43 per cent higher for four-bedroom homes compared with three, and 40 per cent higher for five-bedroom properties compared with four.
Auckland and Wellington lead price jumps
Auckland recorded the sharpest increase among the major centres.
Buyers paid on average 50 per cent more to upgrade from a one-bedroom property ($513,668) to a two-bedroom home ($772,483) between July 2024 and July 2025.
In Wellington, the increase was 45 per cent, from $435,116 for a one-bedroom property to $629,991 for two bedrooms.
Price differences between larger homes were more modest, with rises of 33, 28 and 31 per cent respectively when moving up the bedroom scale.
Waikato and Canterbury favour larger homes
In Waikato and Canterbury, the biggest gains came when upsizing from three to four bedrooms.
Waikato buyers faced an average increase of $288,519, or 39 per cent, while in Canterbury the jump was $255,437, or 36 per cent.
Central Otago tops the list
The most striking figures came from the Central Otago/Lakes District, where an extra bedroom could add half a million dollars or more to a home’s asking price.
Two-bedroom properties in the region averaged $858,387, but this leapt to $1,412,870 for three bedrooms – an increase of $554,483, or 64 per cent.
A further 53 per cent jump was recorded between three and four bedrooms ($754,970), while moving from four to five or more bedrooms cost buyers nearly $1 million more, rising from $2,167,840 to $3,091,115.
‘Forever homes’ drive demand
Vanessa Williams, spokesperson for realestate.co.nz, said the findings show the extent to which buyers are willing to pay for more space.
“At a national level, we’re talking about an almost $400,000 jump between a three-bedroom and a four-bedroom home, and nearly half a million dollars between four and five bedrooms,” she said.
“Property owners who are willing to roll up their sleeves and add another bedroom through a smart renovation will likely benefit when selling. On the flip side, buyers need to be aware of the price differences when upsizing.”
Ms Williams added that larger homes are often seen as “forever homes”, making them particularly sought after by families and long-term buyers.
*All prices in NZD
