"Prices in the Capital city have been more mixed with Wellington City, at a median price of $755,000: the most affordable it's been in seven months, yet record median prices were [recorded] in Porirua and Upper Hutt cities," Norwell said.
"The Manawatu/Whanganui region has had a record median price in seven of the last eight months, Southland has [experienced the same] in six of the last seven months and [in] Hawkes Bay, five of the last six months [showed] a record median price.The number of residential properties sold across New Zealand in January was 4603 - 144 more compared to January 2019, representing the busiest January in four years. Auctions were used in 6.8 percent of sales across the country, with 312 sold under the hammer in January.The median house price for New Zealand, excluding Auckland, was $525,000 in January, up 11.7 percent compared to January 2019.Last month, the median number of days to sell a house nationwide was 42 days, down from 48 in January 2019. In the last quarter of 2019, REINZ data showed tentative signs of growth for New Zealand's biggest city, however last month's data indicates a slight decline from November's median price of $885,000.
By subscribing you agree to our Terms of Access and Privacy PolicyREINZ reports record median house price growth year-on-year for the following regions:The median house price in Canterbury was $465,000 (in line with October) and both Southland and Manawatu have experienced strong growth in recent months. And during the latest quarter (Q4 2019), house prices increased by 5.4%. For access to historical House Price Index figures, please contact REINZ Business Analyst, David Shaw All rights reserved REINZ. In Auckland, median house prices increased by 11.1% to a new record median price of $950,000 – up from $855,000 at the same time last year, and a $65,000 uplift on February 2020. Please check your inbox in a few minutes.Enter your e-mail address below to reset your password. Regions with the highest drop in the number of homes sold year-on-year were:"North Shore City has the highest median price for residential property at $1,101,000, followed by Auckland City on $935,000 and Rodney District with a median of $927,000.Northland had the highest days to sell of any region, at 55 days.In Auckland city, January's median house price was $935,000 and 337 were sold, taking a median number of 47 days.
Annual REINZ data confirms two-year gridlock on Auckland house pricesThe data shows that prices in seven regions grew by over 8 percent compared to January last year and REINZ chief executive Bindi Norwell said that four regions now command prices of $600,000-plus. During 2019, the nationwide median house price soared by 12.3% to NZ$629,000 (US$ 414,599), according to the Real Estate Institute of New Zealand (REINZ), a sharp improvement from the previous year’s rise of 1.8%. Reset password email is sent. According to REINZ, the nationwide median house price increased by 11.8 percent in January to $615,000 - up from $550,000 in January 2019 but below the median of $630,000 in November. Every region in the country recorded an annual increase in median house prices last month. With a January median house price of $599,000, property in the Waikato is not far behind.In Auckland,1295 properties sold in January, up 9.7 percent year-on-year - the highest number sold for the month of January since 2016.With no clear signs that Auckland prices are back on the boil and a subdued month for Wellington, house-hunters in the two largest cities may enjoy some respite, while those in regions such as Manawatu and Hawkes Bay may need to check their budget.
"However, sales fell 14.5% year-on-year and days to sell increased by 6 from 21 days in August 2019 to 27 days in August 2020. Median Auckland House Prices.
With 2020 well underway, an increase in the number of homes sold indicates that prospective buyers should brace themselves for a busy market. Auckland house prices ended 2018 down on the previous year, the first time that's happened since 2008. "These results are in line with the REINZ House Price Index (HPI), which saw property values in Auckland increase 4.4 percent annually," Norwell said. … Copyright © 2020 MediaWorks TV - All Rights Reserved
"Queenstown Lakes had a strong start to the year, with a median house price of $1,055,000 - the first time in six months the median price has exceeded the million-dollar mark," Norwell said. In Auckland city, January's median house price was $935,000 and 337 were sold, taking a median number of 47 days. "This time last year, only the Auckland region had a median price over the $600,000 mark.Auckland's median house price in January was $875,000, up 8.7 percent compared to $805,000 in January 2019. Additionally, Auckland’s median house price increased by 16.0% to $950,000 a new record high up from $819,000 at the same time last year, and up from $918,097 in July this year (a 3.5% increase). Interestingly, the median Auckland house price has vacillated up and down for more than 21 months. In the past couple of months, however, the median house price has fallen to $835,000. Median house prices for New Zealand excluding Auckland increased by 14.2% to a new record median price of $570,000, up from $499,000 in August last year and up from $557,500 in July this year. Copyright © 2020
REINZ Regional Commentator for Dunedin Liz Nidd said the median house price in Dunedin saw an annual increase of 11.4% to $519,000. When adjusted for inflation, house prices rose by 10.8% in 2019.
The latest Real Estate Institute of New Zealand (REINZ) data on median house prices indicates the opportunity to buy a property for under $600,000 is slipping away. REINZ specialises in all facets of real estate including residential sales, rural, auctioneers, business brokers, commercial and industrial sales and leasing and residential property managers.