NZ House Prices August 2017 Update

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New Zealand’s average house price was $530,000 in August 2017, up $22,000 compared with last month and up $40,000 from August 2016.

The number of properties available for sale fell by 1,472 in August compared to 12 months ago, according to the REINZ.

August house sales were down 20% compared with the same month last year.

REINZ Chief Executive, Bindi Norwell said, “Again, we’ve seen the number of properties sold across the country drop significantly. The drop in volume this month meant that, on average, 47 fewer properties were sold each day in August 2017 in comparison to August 2016 – that’s a big drop. Banks’ lending criteria and LVRs are still impacting first home buyers and investors.”

  • House prices have increased by $40,000 from 12 months ago, when New Zealand’s median house price was $490,000.
  • The number of properties sold was down, with 20% fewer sales in August 2017 compared to August 2016, according to the REINZ.
  • The average number of days to sell a house was 37, an increase on the 30 days needed in August 2016.
  • The number of properties available for sale rose by 93 (0.4%) compared to 12 months ago.

On an annual basis, eleven of the country’s fourteen regions saw a rise in price and three saw a fall.

Annual New Zealand House Price Changes

RegionMedian Price August 2017Change Since August 2016
Northland$428,000up 20 %
Auckland Region$840,000down 1.2 %
Waikato$480,000up 12 %
Bay of Plenty$538,000up 9.8 %
Gisborne$235,000down 10 %
Hawkes Bay$405,000up 19 %
Manawatu / Wanganui$285,000up 18 %
Taranaki$329,000up 10 %
Wellington Region$500,000up 8.7 %
Nelson / Marlborough / Tasman$475,000up 10 %
West Coast Region$185,000down 7.5 %
Canterbury$427,000up 1.1 %
Otago Region$380,000up 11 %
Southland$250,500up 22 %
New Zealand$530,000up 8.2 %
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NZ House Prices July 2017 Update

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New Zealand’s average house price was $518,000 in July 2017, down $12,000 compared with last month but up $17,000 from July 2016.

The number of properties available for sale rose by 1,441 in July compared to 12 months ago, according to the REINZ.

July house sales were down 25% compared with the same month last year.

REINZ Chief Executive, Bindi Norwell said, “The number of sales across New Zealand has dropped significantly in comparison to the same time last year. A key reason for this is that the two biggest hurdles to purchasing a house right now are access to finance as the banks continue to tighten their lending criteria and LVR restrictions.” She continued, “This creates an intimidating barrier to entry to the real estate market, particularly for those saving for their first home.”

  • House prices have increased by $17,000 from 12 months ago, when New Zealand’s median house price was $501,000.
  • The number of properties sold was down, with 25% fewer sales in July 2017 compared to July 2016, according to the REINZ.
  • The average number of days to sell a house was 35, an increase on the 31 days needed in July 2016.
  • The number of properties available for sale rose by 1,441 (7%) compared to 12 months ago.

On an annual basis, ten of the country’s fourteen regions saw a rise in price and four saw a fall.

Annual New Zealand House Price Changes

RegionMedian Price July 2017Change Since July 2016
Northland$455,000up 23 %
Auckland Region$830,000down 1.2 %
Waikato$489,000up 9 %
Bay of Plenty$555,000down 1.2 %
Gisborne$290,000up 16 %
Hawkes Bay$400,000up 25.8 %
Manawatu / Wanganui$272,000up 6.7 %
Taranaki$325,000up 3.2 %
Wellington Region$490,000up 8.9 %
Nelson / Marlborough / Tasman$435,000up 9 %
West Coast Region$195,000down 23.5 %
Canterbury$420,000down 2.3 %
Otago Region$400,000up 15.3 %
Southland$232,500up 4.7 %
New Zealand$518,000up 3.4 %
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NZ House Prices June 2017 Update

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New Zealand’s average house price was $529,000 in June 2017, down $5,000 compared with last month but up $24,000 from June 2016.

The number of properties available for sale rose by 1,895 in June compared to 12 months ago, according to the REINZ.

June house sales were down 25% compared with the same month last year.

REINZ Chief Executive, Bindi Norwell said, “While median prices in Auckland have increased slightly year-on year, the City of Sails had the second lowest rate of growth in the country in comparison to the 8% seen in June 2016 and 27.1% increase in June 2015. This is evidence that the ‘Supercity’ has showed signs of price growth slowing down.” She continued, “However most regions across the rest of the country experienced double-digit (or close to it) growth and record median prices have been seen in three regions this month.”

  • House prices have increased by $24,000 from 12 months ago, when New Zealand’s median house price was $505,000.
  • The number of properties sold was down, with 20% fewer sales in June 2017 compared to June 2016, according to the REINZ.
  • The average number of days to sell a house was 36, an increase on the 31 days needed in June 2016.

On an annual basis, seven of the country’s fourteen regions saw a rise in price and seven saw a fall.

Annual New Zealand House Price Changes

RegionMedian Price June 2017Change Since June 2016
Northland$425,000up 18.1 %
Auckland Region$850,500up 2.5 %
Waikato$465,000up 8.1 %
Bay of Plenty$555,000up 14.2 %
Gisborne$260,000up 6.6 %
Hawkes Bay$373,000up 16.6 %
Manawatu / Wanganui$280,000up 19.1 %
Taranaki$325,000up 3.2 %
Wellington Region$530,000up 16.5 %
Nelson / Marlborough / Tasman$486,000up 20 %
West Coast Region$250,000up 43 %
Canterbury$435,000up 1.0 %
Otago Region$385,000up 12.6 %
Southland$230,000up 21 %
New Zealand$529,000up 5.8 %
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NZ House Prices May 2017 Update

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New Zealand’s average house price was $540,000 in May 2017, unchanged compared with last month but up $34,000 from May 2016.

The number of properties sold was up, with 7,336 sales in May compared to 5,845 sales in April, according to the REINZ.

May house sales were down 18% compared with the same month last year.

REINZ Chief Executive, Bindi Norwell said, “May housing activity clearly shows continued buoyant activity across a number of regions which contrasts with the continuing stability of the Auckland region. We saw record median prices achieved in 4 of the 14 regions we measure… suggesting that the regions continue to hold up overall.” She continued, “Auckland median house prices increased 5% year on year to $865,000, showing continued growth in the Auckland housing market, albeit at a slower rate than the previous year.”

  • House prices have increased by $34,000 from 12 months ago, when New Zealand’s median house price was $506,000.
  • The number of properties sold was down, with 7,336 sales in May 2017 compared to 9,075 sales in May 2016, according to the REINZ.
  • The average number of days to sell a house was 37, an increase on the 32 days needed in May 2016.

On an annual basis, twelve of the country’s fourteen regions saw a rise in price and two saw a fall.

Annual New Zealand House Price Changes

RegionMedian Price May 2017Change Since May 2016
Northland$450,000up 29 %
Auckland Region$865,000up 5.0 %
Waikato$486,000up 20 %
Bay of Plenty$541,500up 9.4 %
Gisborne$286,500up 26.5 %
Hawkes Bay$375,000up 16 %
Manawatu / Wanganui$269,000up 20 %
Taranaki$355,000up 2.6 %
Wellington Region$521,000up 12 %
Nelson / Marlborough / Tasman$483,250up 22 %
West Coast Region$195,000down 4.9 %
Canterbury$431,500down 1.9 %
Otago Region$375,000up 7.9 %
Southland$238,000up 14 %
New Zealand$540,000up 6.7 %
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NZ House Prices April 2017 Update

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New Zealand’s average house price was $540,000 in April 2017, a decrease of $6,000 compared with last month but up $51,000 from April 2016.

The number of properties sold was down, with 5,845 sales in April compared to 8,504 sales in March, according to the REINZ.

April house sales were down 31% compared with the same month last year.

REINZ Chief Executive, Bindi Norwell said, “The data for April shows that the market is reasonably stable, despite the impact of a number of factors on activity right across New Zealand. These include severe weather in April – one of the wettest on record – and the combination of Easter (which fell in March last year), plus school holidays and ANZAC Day.” She continued, “Anecdotal evidence suggests that in some regions this was the dominant feature of the month. Importantly though, the overall tone of the market remains broadly positive, with price and sales volume drops broadly typical in April.”

  • House prices have increased by $51,000 from 12 months ago, when New Zealand’s median house price was $489,000.
  • The number of properties sold was down with sales of 8,568 in April 2016 compared to 5,845 in April 2017.
  • The average number of days to sell a house was 34, an increase on the 32 days needed in April 2016.

On an annual basis, thirteen of the country’s fourteen regions saw a rise in price and one saw a fall.

Annual New Zealand House Price Changes

RegionMedian Price April 2017Change Since April 2016
Northland$415,000up 16 %
Auckland Region$854,500up 3.0 %
Waikato$489,000up 16 %
Bay of Plenty$535,000up 22 %
Gisborne$289,000up 22 %
Hawkes Bay$387,000up 14 %
Manawatu / Wanganui$257,000up 11 %
Taranaki$345,000up 3.3 %
Wellington Region$537,000up 19 %
Nelson / Marlborough / Tasman$447,500up 14 %
West Coast Region$220,000down 22 %
Canterbury$447,000up 4.0 %
Otago Region$381,000up 12 %
Southland$210,000up 3.3 %
New Zealand$540,000up 10.4 %
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NZ House Prices March 2017 Update

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New Zealand’s average house price was $546,000 in March 2017, an increase of $51,000 compared with last month and also up $51,000 from March 2016.

The number of properties sold was up, with 8,504 sales in March compared to 6,253 sales in February, according to the REINZ.

March house sales were down 11% compared with the same month last year.

REINZ Chief Executive, Bindi Norwell said, “March reflects the seasonal peak for the year so far, with the largest number of homes sold and the largest month-on-month increase in the median price, as we normally expect to see this month.” She continued, “Auckland has recorded another record median price and a 66% jump on sales volumes on February, but it should be noted that the ‘March effect’ is more pronounced in Auckland than in other regions. Further, the levels of inventory in Auckland are rising quickly with 47% increase in inventory over the past month, offering buyers more choice.”

  • House prices have increased by $51,000 from 12 months ago, when New Zealand’s median house price was $495,000.
  • The number of properties sold was down with sales of 9,527 in March 2016 compared to 8,504 in March 2017.
  • There were 1,637 dwellings sold by auction nationally in March 2017, representing 19% of all sales and a decrease of 717 on the number sold by auction in March 2016.
  • The average number of days to sell a house was 32, an increase on the 30 days needed in March 2016.

On an annual basis, eleven of the country’s twelve regions saw a rise in price and one saw a fall.

Annual New Zealand House Price Changes

RegionMedian Price March 2017Change Since March 2016
Northland$445,000up 27 %
Auckland Region$890,000up 8.5 %
Waikato / Bay of Plenty / Gisborne$487,000up 17 %
Hawkes Bay$385,000up 24 %
Manawatu / Wanganui$270,000up 16 %
Taranaki$370,000up 18 %
Wellington Region$525,000up 14 %
Nelson / Marlborough$465,000up 13 %
Canterbury / Westland$440,000up 3.5 %
Central Otago Lakes$690,250down 1.7 %
Otago$320,000up 14 %
Southland$225,000up 7.1 %
New Zealand$546,000up 10 %
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NZ House Prices February 2017 Update

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New Zealand’s average house price was $495,000 in February 2017, an increase of $5,000 compared with last month and up $45,000 from February 2016.

The number of properties sold was up, with 6,253 sales in February compared to 4,307 sales in January, according to the REINZ.

February house sales were down 14% compared with the same month last year.

REINZ Chief Executive, Bindi Norwell said, “We are seeing a mixed picture across New Zealand. Auckland is mixed: there is something in the market for buyers and sellers. For instance, although there are more houses on the market and median prices are rising on a seasonally adjusted basis year-on-year, sales volumes were down in February 9% year-on-year on a seasonally adjusted basis.”

  • House prices have increased by $45,000 from 12 months ago, when New Zealand’s median house price was $450,000.
  • The number of properties sold was down with sales of 7,291 in February 2016 compared to 6,253 in February 2017.
  • There were 921 dwellings sold by auction nationally in February 2017, representing 15% of all sales and a decrease of 378 on the number sold by auction in February 2016.

On an annual basis, eleven of the country’s twelve regions saw a rise in price and one saw a fall.

Annual New Zealand House Price Changes

RegionMedian Price February 2017Change Since February 2016
Northland$421,000up 20 %
Auckland Region$800,000up 6.7 %
Waikato / Bay of Plenty / Gisborne$460,000up 14 %
Hawkes Bay$350,000up 6.1 %
Manawatu / Wanganui$260,000up 9.2 %
Taranaki$340,000up 3.7 %
Wellington Region$520,750up 15 %
Nelson / Marlborough$450,000up 13 %
Canterbury / Westland$425,000up 1.2 %
Central Otago Lakes$725,000up 30 %
Otago$317,250up 18 %
Southland$210,000down 2.3 %
New Zealand$495,000up 10 %
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NZ House Prices January 2017 Update

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New Zealand’s average house price was $490,000 in January 2017, a decrease of $26,000 compared with last month but up $42,000 from January 2016.

The number of properties sold was down, with 4,307 sales in January compared to 6,533 sales in December, according to the REINZ.

January house sales were down 15% compared with the same month last year.

REINZ Chief Executive, Bindi Norwell said, “Anecdotal evidence from agents around the country suggests that the market has been picking up speed towards the end of January. The number of properties for sale in Auckland is certainly rising, with more than four months of supply now available and a rise of over a month of supply over the past year. This lead indicator means greater choice for Auckland home buyers, and prompts us to ask whether the Auckland market is showing some early new signs of activity.” She continued, “Market fundamentals remain the same, with a rising population, housing shortage and historically low, although potentially rising, interest rates.”

  • House prices have increased by $42,000 from 12 months ago, when New Zealand’s median house price was $448,000.
  • The number of properties sold was down with sales of 5,048 in January 2016 compared to 4,307 in January 2017.
  • There were 280 dwellings sold by auction nationally in January 2017, representing 7% of all sales and a decrease of 138 on the number sold by auction in January 2016.

On an annual basis, eleven of the country’s twelve regions saw a rise in price and one saw a fall.

Annual New Zealand House Price Changes

RegionMedian Price January 2017Change Since January 2016
Northland$400,000up 18 %
Auckland Region$805,000up 12 %
Waikato / Bay of Plenty / Gisborne$462,000up 22 %
Hawkes Bay$366,000up 16 %
Manawatu / Wanganui$265,000up 21 %
Taranaki$351,000up 4.8 %
Wellington Region$460,000up 17 %
Nelson / Marlborough$470,000up 25 %
Canterbury / Westland$418,000down 1.6 %
Central Otago Lakes$630,000up 20 %
Otago$304,000up 8.6 %
Southland$217,000up 17 %
New Zealand$490,000up 9.4 %
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NZ House Prices December 2016 Update

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New Zealand’s average house price was $516,000 in December, an increase of $1,000 compared with last month and up $51,000 from December 2015.

The number of properties sold was down, with 6,533 sales in December compared to 7,576 sales in November, according to the REINZ.

December house sales were down 11% compared with the same month last year.

REINZ Chief Executive, Bindi Norwell said, “The underlying trends we are seeing are of rising prices across New Zealand, with all regions recording year-on -year increases in the median price. By contrast, we are seeing flat or falling sales volumes in many areas of the country. In Auckland, the long-term median price trend has been consistently rising, despite a slight easing compared to November 2016. The combination of fundamental factors, such as strong underlying population growth and a lack of supply in the market to meet Auckland’s growing population, suggests that we may be unlikely to see much change to the upward trend in prices unless these fundamentals change.”

  • House prices have increased by $51,000 from 12 months ago, when New Zealand’s median house price was $465,000.
  • The number of properties sold was down with sales of 7,313 in December 2015 compared to 6,533 in December 2016.
  • There were 1,152 dwellings sold by auction nationally in December 2016, representing 18% of all sales and a decrease of 231 on the number sold by auction in December 2015.

On an annual basis, all of the country’s twelve regions saw a rise in price.

Annual New Zealand House Price Changes

RegionMedian Price December 2016Change Since December 2015
Northland$410,000up 14 %
Auckland Region$840,000up 9.1 %
Waikato / Bay of Plenty / Gisborne$460,000up 17 %
Hawkes Bay$345,000up 11 %
Manawatu / Wanganui$260,000up 8.3 %
Taranaki$351,000up 11 %
Wellington Region$530,000up 22 %
Nelson / Marlborough$456,000up 17 %
Canterbury / Westland$438,000up 4.0 %
Central Otago Lakes$649,000up 16 %
Otago$310,000up 9.9 %
Southland$235,000up 15 %
New Zealand$516,000up 11 %
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NZ House Prices In Spring Lift

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New Zealand’s average house price was $515,000 in November, an increase of $5,000 compared with last month and up $20,500 from November 2015.

The number of properties sold was up, with 7,576 sales in November compared to 6,277 sales in October, according to the REINZ.

November house sales were down 6% compared with the same month last year.

REINZ spokesperson, Bryan Thomson said, “Sales volumes and prices have recovered in November. For the first time, our map has been dark blue across the entire country, depicting strong year-on-year price growth or record prices in every region, and double-digit growth across the entire North Island. The nationwide median price has also hit a new high.”

  • House prices have increased by $20,500 from 12 months ago, when New Zealand’s median house price was $459,500.
  • The number of properties sold was down with sales of 8,048 in November 2015 compared to 7,576 in November 2016.
  • There were 1,779 dwellings sold by auction nationally in November 2016, representing 24% of all sales and a decrease of 11 on the number sold by auction in November 2015.

On an annual basis, all of the country’s twelve regions saw a rise in price.

Annual New Zealand House Price Changes

RegionMedian Price November 2016Change Since November 2015
Northland$400,000up 19 %
Auckland Region$852,000up 11 %
Waikato / Bay of Plenty / Gisborne$470,000up 19.7 %
Hawkes Bay$345,000up 15 %
Manawatu / Wanganui$269,000up 18 %
Taranaki$359,000up 20 %
Wellington Region$500,000up 15 %
Nelson / Marlborough$466,000up 24 %
Canterbury / Westland$440,000up 4.5 %
Central Otago Lakes$636,000up 32 %
Otago$300,000up 7.9 %
Southland$228,000up 15 %
New Zealand$520,000up 13 %
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