According to the Real Estate Institute of New Zealand, the average price of a house in New Zealand rose to $313,000 in July. The national median price is 11 percent higher than a year ago.
REINZ National President Howard Morley commented, “The market has been plateauing from a price perspective and while the median price has risen during the year, the underlying theme is very much one of consolidation of prices rather than a continuation of the sharp rise in prices of previous years”.
Six out of the New Zealand’s twelve regions reported price rises in July.
House Price Changes
| Region | Median Price July |
Change since June |
| Northland | $268,250 | down 1.9 % |
| Auckland Region | $390,000 | down 3.7 % |
| Waikato / Bay of Plenty / Gisborne | $285,000 | up 0.0 % |
| Hawke’s Bay’s | $253,000 | down 2.5 % |
| Manawatu / Wanganui | $205,000 | down 1.4 % |
| Taranaki | $240,000 | up 1.3 % |
| Wellington Region | $330,000 | up 0.6 % |
| Nelson / Marlborough | $297,500 | up 4.8 % |
| Canterbury / Westland | $270,000 | down 0.5 % |
| Central Otago Lakes | $398,500 | up 1.8 % |
| Otago | $212,000 | down 6.4 % |
| Southland | $143,500 | up 0.7 % |