House Prices Whangarei | Hamilton | Tauranga | Napier | New Plymouth | Palmerston North
Houses in New Zealand's North Island
| Location | May 2012 | May 2011 | May 2010 | May 2009 | May 2008 | May 2007 |
|---|---|---|---|---|---|---|
| Whangarei | $275,000 | $284,000 | $286,250 | $289,000 | $315,000 | $289,500 |
| Hamilton | $330,000 | $330,000 | $330,000 | $324,000 | $348,000 | $318,000 |
| Tauranga | $345,000 | $330,000 | $354,000 | $340,000 | $368,000 | $355,000 |
| Napier | $290,000 | $297,000 | $295,500 | $294,000 | $300,000 | $290,000 |
| New Plymouth | $300,000 | $307,000 | $319,800 | $295,000 | $317,000 | $305,000 |
| Palmerston North | $268,000 | $265,000 | $265,000 | $260,000 | $285,000 | $265,000 |
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The prices above are medians taken over 12 month periods, sourced by the Real Estate Institute of New Zealand.
According to data from REINZ, house prices have remained fairly stable over the past few years in North Island towns. Using 12 month median data, house prices in Hamilton are unchanged in two years and have increased by a modest 3.8 per cent over five years. Napier house prices have returned to the 2007 figure at $290,000. New Plymouth house prices averaging $300,000 are $5,000 below their 2007 level and Tauranga house prices are $10,000 below their 2007 price of $355,000.
REINZ Chief Executive Helen O’Sullivan commented in the May 2012 report that, “the easing of the median price in Palmerston North is indicative of an active market below $280,000 with a shortage of listings, and a less active market above $300,000. This ‘two speed’ market is a common feature of many centres at the moment.”
According to Quotable Value, house prices in Tauranga and Hamilton are currently more than 10 per cent below their previous market peaks in 2007. Over the three months to May 2012 average house prices were $280,000 in Rotorua, $345,000 inTaupo and $268,000 in Gisborne.
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