House Prices in North Island Towns

Houses in New Zealand's North Island
North Island Houses

House Prices Whangarei / Hamilton / Tauranga / Napier / New Plymouth / Palmerston North

Location May 2016 May 2015 May 2014 May 2013 May 2012 May 2011
Whangarei $314,000 $279,000 $286,000 $270,000 $275,000 $284,000
Hamilton $429,000 $362,000 $358,000 $335,000 $330,000 $330,000
Tauranga $476,000 $389,000 $365,000 $346,000 $345,000 $330,000
Napier $336,000 $316,000 $306,000 $295,000 $290,000 $297,000
New Plymouth $382,000 $359,000 $345,000 $322,000 $300,000 $307,000
Palmerston North $296,000 $286,000 $286,000 $270,000 $268,000 $265,000

Market Analysis

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 increased over the past few years in North Island towns. Using 12 month median data, house prices have increased in the five year period to May 2016 for all towns. From the selection above, average house prices in May 2016 range from $314,000 in Whangarei to $476,000 in Tauranga.

Figures from Quotable Value (QV) show that property values in Tauranga for June 2016 averaged $600,000, up over 23 percent compared to June 2015.

QV National Spokesperson Andrea Rush said, ‘Many housing markets around the country are continuing to be driven by strong investor demand, low interest rates, rapid price growth in the Auckland market and strong net migration.’

Other North Island Towns
Over the three months to June 2016 average property values from QV were $328,000 in Rotorua, $345,000 in Taupo and $237,000 in Gisborne.

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