According to the Real Estate Institute of New Zealand, the average price of a house in New Zealand rose to $330,000 in November from $324,000 in October.
Prices are 10 percent higher than one year ago.
Sales of properties worth $1 million and over jumped from 198 in October to 292 in November while sales of properties worth $600,000 - $999,000 increased from 741 to 949.
The increased levels of sales and the strong prices were evidence of a growing market confidence, according to REINZ National President Mr Murray Cleland.
“The winter months contributed to a very subdued market and relatively flat prices in turn affected confidence, but the last two months have demonstrated a return of confidence among buyers.
“This is particularly evident in Auckland and Wellington which tend to be barometers for the rest of the country,” Mr Cleland said.
Eight out of the New Zealand’s twelve regions reported price rises in November.
House Price Changes
| Region | Median Price November |
Change since October |
| Northland | $285,000 | down 6.9 % |
| Auckland Region | $425,500 | up 2.4 % |
| Waikato / Bay of Plenty / Gisborne | $305,000 | up 1.5 % |
| Hawke’s Bay | $275,000 | down 0.5 % |
| Manawatu / Wanganui | $208,000 | down 3.2 % |
| Taranaki | $265,000 | up 3.9 % |
| Wellington Region | $370,000 | up 4.2 % |
| Nelson / Marlborough | $319,000 | up 2.9 % |
| Canterbury / Westland | $289,500 | up 1.8 % |
| Central Otago Lakes | $392,500 | down 8.7 % |
| Otago | $235,000 | up 2.2 % |
| Southland | $155,000 | up 3.3 % |