A new record national median house price of $290,000 was recorded in August. This is $10,000 higher than July and $42,000 higher than one year ago according to the latest Real Estate Institute of New Zealand figures.
Higher than usual demand for higher priced properties, over $400,000, was a feature of the month’s trading according to REINZ National President, Mr Howard Morley.
Mr Morley commented, “Now the election is over it’s hard not to see that confidence continuing and a national median of $300,000 being achieved sooner rather than later.”
House Price Changes
| Region | Median Price August |
Change since July |
| Northland | $250,000 | up 6.3 % |
| Auckland Region | $375,000 | up 3.2 % |
| Waikato/Bay of Plenty/Gisborne | $263,000 | up 6.3 % |
| Hawke’s Bay’s | $253,750 | up 1.5 % |
| Manawatu/Wanganui | $173,000 | up 2.1 % |
| Taranaki | $216,600 | up 0.0 % |
| Wellington Region | $308,100 | up 4.4 % |
| Nelson/Marlborough | $270,000 | down 1.3 % |
| Canterbury/Westland | $260,000 | up 4.0 % |
| Otago | $193,000 | down 4.0 % |
| Southland | $136,000 | down 1.8 % |