PHOTO: REINZ – August 2018 Results
The median house price for Auckland saw the first year on-year increase in six months, with a rise of 1.4% to $852,000 in August, suggesting that spring may have come early for the Auckland property market 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.
Median house prices for New Zealand increased 3.6% year-on-year to $549,000. For New Zealand excluding Auckland, the increase was even greater with a 6.2% annual increase from $428,500 to $455,000.
Only two regions saw a fall in median price year-on-year – Canterbury with a decrease of -0.5% to $425,000 and Southland with a decrease of -4.0% to $240,000.
August saw 3 regions achieve record median prices and 2 regions equal previous records:
• Gisborne: +42.6% to $335,000
• Tasman: +24.2% to $615,000
• Manawatu/Wanganui: +10.5% to $315,000
• Hawke’s Bay: +9.9% to $445,000 an equal record with March 2018
• Waikato: +9.4% to $525,00 an equal record with June 2018.
READ MORE VIA REINZ
