New Zealand’s median house price rose to a record $295,000 in October compared with $290,000 in September. October’s figure is $38,000 higher than October 2004.
Howard Morley, of the Real Estate Institute of New Zealand, said agents reported a widespread shortage of listings throughout the country, contributing to a fall in the number of houses sold. Houses sold fell from 9,186 in September to 8,513 in October. However, this was up on the October 2004 figure of 8,191.
House Price Changes
| Region | Median Price October |
Change since September |
| Northland | $256,150 | up 0 % |
| Auckland Region | $380,000 | up 0.3 % |
| Waikato / Bay of Plenty / Gisborne | $274,000 | up 3.4 % |
| Hawke’s Bay’s | $250,000 | up 0 % |
| Manawatu/Wanganui | $183,550 | up 4.9 % |
| Taranaki | $211,000 | down 6.3 % |
| Wellington Region | $304,500 | up 2.7 % |
| Nelson / Marlborough | $273,800 | up 4.3 % |
| Canterbury / Westland | $260,000 | up 0.4 % |
| Otago | $215,000 | down 2.3 % |
| Southland | $119,250 | down 5.7 % |