The average (median) price of a house in New Zealand fell to $295,000 in December from a record high of $300,000.
REINZ President, Mr Howard Morley, said the decline was anticipated and in line with previous Decembers, adding, “the market put in a very solid performance in 2005 rising 13.46 per cent in the face of predictions throughout the year that the market had stalled and would fall”.
House prices in seven of New Zealand’s regions rose while prices in five declined.
House Price Changes
| Region | Median Price December |
Change since November |
| Northland | $290,000 | up 14.4 % |
| Auckland Region | $395,000 | up 1.2 % |
| Waikato / Bay of Plenty / Gisborne | $269,000 | down 2.2 % |
| Hawke’s Bay’s | $251,000 | down 5.3 % |
| Manawatu/Wanganui | $184,500 | down 1.3 % |
| Taranaki | $230,000 | up 12.2 % |
| Wellington Region | $316,00 | up 0.2 % |
| Nelson / Marlborough | $265,000 | up 5.8 % |
| Canterbury / Westland | $263,000 | down 2.6% |
| Central Otago Lakes | $490,000 | up 22.5 % |
| Otago | $205,000 | down 4.7 % |
| Southland | $140,000 | up 8.5 % |