PHOTO: Latest figures show price growth topped the rest of the country last month. Source: 1 NEWS
The average house price in New Zealand has eclipsed $800,000, and a property expert says consistent government messages about the need to protect property wealth mean prices will continue to grow.
Property research firm CoreLogic’s house price index rose 2.2 per cent in January, with the average house price now sitting at $806,151.
Prices have risen 7 per cent over the previous quarter and were up by 12.8 per cent on a year ago – the highest annual growth rate since March 2017.
CoreLogic head of research Nick Goodall said demand continued to outstrip supply, which was propelling the market.
“Inventory remains tight across the country, although Trade Me recently reported that advertised stock levels had lifted year-on-year in our largest city.
READ MORE VIA TVNZ
