This study aims to fill a research gap by investigating the long-term relationship between inflation, economic growth and housing prices from 2007 to 2023 in New Zealand. This is particularly significant given the unprecedented volatility in housing prices, sustained high inflation rates, and sluggish economic growth observed in the country amidst GFC and Covid-19 period. Investigating the effectiveness of New Zealand housing prices as an inflation hedge provides valuable insights into the dynamics of the housing market and its role in protecting households and investors. Policymakers, economists, and market participants can benefit from this knowledge when navigating the evolving landscape of New Zealand's housing market.