New Zealand’s average house price was $515,000 in September, an increase of $22,000 compared with last month and up $30,350 from September 2015.
The number of properties sold was down, with 7,397 sales in September compared to 7,527 sales in August, according to the REINZ.
September house sales were down 10% compared with the same month last year.
REINZ spokesperson, Bryan Thomson said, “The real estate market in New Zealand appears to be in something of a two-speed mode at present, with Auckland pausing for breath during a wet school holiday period and ahead of likely new spring growth. We are also seeing anecdotal evidence that first home buyers in Auckland are now favouring new builds as a way of getting finance in light of the new LVR restrictions and the ‘carve out’ for new home construction. Meanwhile, across the rest of the country prices continue to rise, still demonstrating strong price and volume growth.”
- House prices have increased by $30,350 from 12 months ago, when New Zealand’s median house price was $484,650.
- The number of properties sold was down with sales of 8,174 in September 2015 compared to 7,397 in September 2016.
- There were 1,769 dwellings sold by auction nationally in September 2016, representing 24% of all sales and a decrease of 541 on the number sold by auction in September 2015.
On an annual basis, all of the country’s twelve regions saw a rise in price.
Annual New Zealand House Price Changes
| Region | Median Price September 2016 | Change Since September 2015 |
|---|---|---|
| Northland | $390,000 | up 15 % |
| Auckland Region | $825,000 | up 7.0 % |
| Waikato / Bay of Plenty / Gisborne | $458,500 | up 18 % |
| Hawkes Bay | $320,000 | up 15 % |
| Manawatu / Wanganui | $256,600 | up 6.9 % |
| Taranaki | $350,000 | up 15 % |
| Wellington Region | $480,000 | up 16 % |
| Nelson / Marlborough | $450,000 | up 22 % |
| Canterbury / Westland | $434,250 | up 3.4 % |
| Central Otago Lakes | $694,500 | up 41 % |
| Otago | $296,000 | up 5.7 % |
| Southland | $200,000 | up 0.3 % |
| New Zealand | $515,000 | up 6.3 % |
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