The average (median) price of houses in May was $305,000, according to figures from the Real Estate Institute of New Zealand. This is unchanged from April.
REINZ National President Howard Morley said, “The sales statistics show that the market has consolidated; prices remain strong with a good number of properties continuing to sell.”
The average number of days to sell increased from 34 days in April to 38 days in May.
Mr Morley said, “Houses took a little longer to sell in most regions this month with the national median days to sell moving out four days. However, even at 38 days to sell we are sitting below the average for the past 10 years which, for the month of May was just over 40.”
The average price in the Auckland region reached $400,000 - up from $387,250 in the previous month.
Five regions saw prices increase over the previous month:
- Northland
- Auckland
- Waikato / Bay of Plenty
- Otago
- Southland
Six regions recorded price falls:
- Hawkes Bay
- Manawatu/Wanganui
- Taranaki
- Wellington
- Nelson
- Central Otago Lakes
Prices were unchanged in:
- Canterbury / Westland
House Price Changes
| Region | Median Price May |
Change since April |
| Northland | $286,000 | up 6.3 % |
| Auckland Region | $400,000 | up 3.3 % |
| Waikato / Bay of Plenty / Gisborne | $283,000 | up 2.9 % |
| Hawke’s Bay’s | $250,000 | up 1.6 % |
| Manawatu/Wanganui | $187,250 | down 1.4 % |
| Taranaki | $233,500 | down 2.7 % |
| Wellington Region | $315,000 | down 5.9 % |
| Nelson / Marlborough | $290,000 | down 2.8 % |
| Canterbury / Westland | $275,000 | up 0.0% |
| Central Otago Lakes | $420,000 | down 2.3 % |
| Otago | $218,500 | up 0.2 % |
| Southland | $130,000 | up 1.8 % |