North Island Houses
House Values Whangarei / Hamilton / Tauranga / Napier / New Plymouth / Palmerston North
| Location | August 2019 | August 2018 | August 2017 | August 2016 |
|---|---|---|---|---|
| Whangarei District | $515,000 | $450,000 | $430,000 | $385,000 |
| Hamilton | $575,000 | $548,000 | $540,000 | $492,000 |
| Tauranga | $670,100 | $640,000 | $635,000 | $601,000 |
| Napier | $555,000 | $495,000 | $436,000 | $371,500 |
| New Plymouth District | $475,000 | $432,500 | $416,000 | $355,000 |
| Palmerston North | $460,000 | $387,000 | $385,000 | $325,000 |
Market Analysis
The prices above are monthly average property prices from The Real Estate Institute of New Zealand (REINZ).
According to data from REINZ, house values have increased markedly over the past few years in North Island towns. From the selection above, average house values in August 2019 ranged from $460,000 in Palmerston North to $670,100 in Tauranga.
Bindi Norwell, Chief Executive at REINZ said, “Median house prices across the country continue to increase with a 5.5% lift across the country to $580,000. Regionally, 12 out of 16 regions saw an increase in median prices since the same time last year, and 8 of those regions saw double-digit growth.”
She continued, “Southland, Manawatu/Wanganui and Hawke’s Bay all achieved record median prices during August reflecting the strong median price growth for a number of months now. This price growth shows no sign of slowing down – especially as there is limited stock for buyers to choose from.”
Other North Island Towns
The August 2019 average property prices from REINZ were $465,900 in Rotorua District, $515,000 in Taupo District and $420,000 in Gisborne District.
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