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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Average NZ House Price Remains Steady

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New Zealand’s average house price was $515,000 in October, a decrease of $5,000 compared with last month but up $50,000 from October 2015.

The number of properties sold was down, with 6,727 sales in October compared to 7,397 sales in September, according to the REINZ.

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

REINZ spokesperson, Bryan Thomson said, “There is some evidence that the normal spring ‘bounce’ in the number of listings has so far been quite weak this year. One possible reason for this is that the revised rules could be making it harder for people to know whether to sell, as they wonder if there are buyers about, so they hold their properties back from the market. This could have the result that we’re seeing, which is that supply falls but the demand is still there, so prices keep rising.”

  • House prices have increased by $50,000 from 12 months ago, when New Zealand’s median house price was $460,000.
  • The number of properties sold was down with sales of 8,174 in October 2015 compared to 6,727 in October 2016.
  • There were 1,475 dwellings sold by auction nationally in October 2016, representing 22% of all sales and a decrease of 436 on the number sold by auction in October 2015.

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 October 2016Change Since October 2015
Northland$399,000up 11 %
Auckland Region$868,000up 16 %
Waikato / Bay of Plenty / Gisborne$460,750up 21 %
Hawkes Bay$322,250up 5.8 %
Manawatu / Wanganui$262,250up 4.9 %
Taranaki$307,000down 1.9 %
Wellington Region$477,000up 12 %
Nelson / Marlborough$430,000up 10 %
Canterbury / Westland$425,000up 1.2 %
Central Otago Lakes$659,000up 42 %
Otago$295,000up 9.3 %
Southland$225,000up 7.7 %
New Zealand$510,000up 10.9 %
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Average NZ House Price reaches $515,000

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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

RegionMedian Price September 2016Change Since September 2015
Northland$390,000up 15 %
Auckland Region$825,000up 7.0 %
Waikato / Bay of Plenty / Gisborne$458,500up 18 %
Hawkes Bay$320,000up 15 %
Manawatu / Wanganui$256,600up 6.9 %
Taranaki$350,000up 15 %
Wellington Region$480,000up 16 %
Nelson / Marlborough$450,000up 22 %
Canterbury / Westland$434,250up 3.4 %
Central Otago Lakes$694,500up 41 %
Otago$296,000up 5.7 %
Southland$200,000up 0.3 %
New Zealand$515,000up 6.3 %
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Average House Price Up Almost Six Percent Over 12 Months

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New Zealand’s average house price was $492,000 in August, a decrease of $13,000 compared with last month but up $27,000 from August 2015.

The number of properties sold was up, with 7,527 sales in August compared to 7,299 sales in July, according to the REINZ.

August house sales were down 3% compared with the same month last year.

REINZ spokesperson, Bryan Thomson said, “The underlying trends indicate that the struggle for stock is the single biggest factor driving market behaviour and price expectations across the country, as we await Spring listings.”

  • House prices have increased by $27,000 from 12 months ago, when New Zealand’s median house price was $465,000.
  • The number of properties sold was down with sales of 7,766 in August 2015 compared to 7,527 in August 2016.
  • There were 1,799 dwellings sold by auction nationally in August 2016, representing 24% of all sales and a decrease of 117 on the number sold by auction in August 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 August 2016Change Since August 2015
Northland$362,000up 12 %
Auckland Region$842,500up 14 %
Waikato / Bay of Plenty / Gisborne$435,000up 23 %
Hawkes Bay$320,000up 12 %
Manawatu / Wanganui$246,500up 15 %
Taranaki$310,000up 8.8 %
Wellington Region$461,000up 14.5 %
Nelson / Marlborough$430,000up 12 %
Canterbury / Westland$420,000up 1.9 %
Central Otago Lakes$650,000up 40 %
Otago$285,000up 4.6 %
Southland$209,000up 11 %
New Zealand$492,000up 5.8 %
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Average House Price In July Reaches $505,000.

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New Zealand’s average house price was $505,000 in July, an increase of $5,000 compared with last month and up $40,000 from July 2015.

The number of properties sold was down, with 7,299 sales in July compared to 7,864 sales in June, according to the REINZ.

July house sales were down 10% compared with the same month last year.

REINZ spokesperson, Bryan Thomson said, “Prices continue to rise in many regions, showing that demand is still frim. Sales volumes remain below previous periods, as the continued shortage of supply impacts buyers, who are struggling to find properties to buy.”

  • House prices have increased by $40,000 from 12 months ago, when New Zealand’s median house price was $465,000.
  • The number of properties sold was down with sales of 8,121 in July 2015 compared to 7,299 in July 2016.
  • There were 1,674 dwellings sold by auction nationally in July 2016, representing 23% of all sales and a decrease of 221 on the number sold by auction in July 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 July 2016Change Since July 2015
Northland$376,000up 16 %
Auckland Region$825,500up 12 %
Waikato / Bay of Plenty / Gisborne$450,000up 26 %
Hawkes Bay$310,000up 6.2 %
Manawatu / Wanganui$265,000up 16 %
Taranaki$320,000up 8.7 %
Wellington Region$450,000up 14 %
Nelson / Marlborough$401,500up 7.1 %
Canterbury / Westland$425,000up 2.4 %
Central Otago Lakes$660,000up 32 %
Otago$280,000up 4.9 %
Southland$208,500up 5.4 %
New Zealand$505,000up 8.6 %
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