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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