PHOTO: ABIGAIL DOUGHERTY/STUFF How fast things pick up for the real estate market will depend on how we shift out of lockdown, Bindi Norwell says.
New Zealand’s real estate market is on hold “to a certain degree”, the chief executive of the Real Estate Institute says, but people are finding ways to keep things moving.
Data just released shows that median house prices were up 13.7 per cent year-on-year in March, to a record national median of $665,000.
The NZ Property Market Podcast | LISTEN
Eight regions had new record prices in the month, which finished with New Zealand going into level four lockdown.
Auckland’s median house prices increased 11.1 per cent to a new record median of $950,000.
“March was an extremely buoyant month for residential property across the country. March marked four months in a row where every region in the country saw an annual increase in median prices,” said Real Estate Institute chief executive Bindi Norwell.
READ MORE VIA STUFF
TOP VIEWED STORIES & PAGES
- Burger King in Receivership
- Nadia Lim and husband have gone ‘back to the land’ in rural South Island
- Government gives small and medium-sized businesses a boost
- Prince Harry and Meghan Markle have reportedly bought Mel Gibson’s mansion in Malibu
- The $3.5 million underground bunkers where the rich hide out from the end of the world, and coronavirus
- Our Latest Thoughts On Property | Updated – April, 2020
- Married At First Sight’s Ivan Sarakula returns to work as a real estate agent | AUSTRALIA
- Rent relief for businesses
- How a Mitre 10 franchise defrauded one of its building contractors
- 28 real estate ads that are so bad they’re good