Four regions reach new record median house prices

Real Estate Institute New Zealand (REINZ) figures for January showed the median price rose a seasonally adjusted 2 per cent on the month before.

REINZ’s house price index hit a record high, with the annual gain more than 19 per cent, the biggest annual rise since mid-2004.

The national median price was $730,300.

REINZ chief executive Bindi Norwell said prices typically eased in January as the residential property market slowed over the holiday season.

“The first month of 2021 was anything but normal as house prices across the country have continued to rise, with January seeing four regions reach new record median house prices and one region equal its December record.”