REINZ: Prices rise in every region in New Zealand bar Auckland and Nelson

PHOTO: REINZ NOVEMBER 2017

Prices rose in 14 of New Zealand’s 16 regions for the year to October, leading to the median house
price for New Zealand, excluding Auckland, to reach a record price of $440,000 (an 8.5% increase),
according to the latest data from the Real Estate Institute of New Zealand (REINZ) – source of the
most complete and accurate real estate data in New Zealand.

Contributing to the increase were record prices in four regions:
• Waikato – up 9.9% to $500,000
• Manawatu/Wanganui – up 11.5% to $290,000
• Canterbury – up 4.7% to $450,000
• Otago – up 14.4% to $412,000.

Nationally, the median price rose by 3.9% year on year to $530,000. However, median prices in
Auckland fell by 3.2% year on year to $850,000 – the biggest fall since December 2010. The only
other region across the country to experience a fall in the median price year-on-year, was Nelson,
which saw a decrease of 6.8% to $447,500 – the biggest drop since April 2012.