New Zealand’s average house price rose to $340,000 in June, up by $2,500 from May.
The number of properties sold was down slightly, with 6,040 sales in June compared to 6,291 in May.
June house sales are up 40 percent compared with the same time last year, although they are still 19 percent lower than June 2007.
REINZ president, Mike Elford, whose organisation publishes the data said:
“The rise from $337,000 in May to $340,000 in June puts us exactly where we were in June last year, and it’s good to see the median time taken to sell properties has moved from the 53 days we saw in June 08 to 41 days last month.”
- House prices are now 3.4 percent lower than in November 2007, when New Zealand’s median house price peaked at $352,000.
- House prices are now at the same level as 12 months ago, when New Zealand’s median house price was also $340,000.
- The number of properties sold rose from 4,305 in June 2008 to 6,040 in June 2009.
- The average number of days to sell a house was 41, eleven days less than in June 2008.
On an annual basis, seven of the country’s twelve regions saw a rise in prices. Prices were down in four regions and flat in one.
Annual New Zealand House Price Changes
| Region | Median Price June 2009 |
Change since June 2008 |
| Northland | $310,000 | up 2.4 % |
| Auckland Region | $435,000 | 0.0 % |
| Waikato / Bay of Plenty / Gisborne | $318,750 | up 0.9 % |
| Hawkes Bay | $280,000 | up 7.3 % |
| Manawatu / Wanganui | $221,750 | up 3.7 % |
| Taranaki | $271,000 | up 6.3 % |
| Wellington Region | $375,000 | up 2.3 % |
| Nelson / Marlborough | $334,000 | down 0.3 % |
| Canterbury / Westland | $295,000 | down 1.3 % |
| Central Otago Lakes | $438,750 | down 14.6 % |
| Otago | $219,150 | down 2.6 % |
| Southland | $193,500 | up 6.0 % |
| New Zealand | $340,000 | 0.0 % |