New Zealand’s average house price rose to $356,000 in April, a decrease of $4,500 on last month but up from $340,000 in April 2009.
The number of properties sold fell, with 5,207 sales in April compared to 6,161 in March, according to the Real Estate Institute of New Zealand (REINZ).
April house sales were down by 16 percent, compared with the same time last year.
REINZ president, Peter McDonald said house values were firming rather than appreciating and he welcomed the lessening of volatility in the market:
“The peaks and troughs of the past 18 months have settled and it’s pleasing to see the market retaining its strength.”
- House prices are 4.7 percent higher than 12 months ago, when New Zealand’s median house price was $340,000.
- The number of properties sold fell from 6,210 in April 2009 to 5,207 in April 2010.
- The average number of days to sell a house was 40, an improvement on the 42 days needed in April 2009.
On an annual basis, ten of the country’s twelve regions saw a rise in prices, one saw a fall and one was unchanged.
Annual New Zealand House Price Changes
| Region | Median Price April 2010 |
Change since April 2009 |
| Northland | $320,000 | up 10.4 % |
| Auckland Region | $470,000 | up 8.0 % |
| Waikato / Bay of Plenty / Gisborne | $315,000 | no change |
| Hawkes Bay | $275,500 | up 2.0 % |
| Manawatu / Wanganui | $230,000 | up 4.5 % |
| Taranaki | $280,000 | up 3.7 % |
| Wellington Region | $390,000 | up 6.1 % |
| Nelson / Marlborough | $339,500 | up 8.8 % |
| Canterbury / Westland | $310,000 | up 5.1 % |
| Central Otago Lakes | $429,500 | up 7.4 % |
| Otago | $235,500 | up 6.4 % |
| Southland | $185,000 | down 2.6 % |
| New Zealand | $356,000 | up 4.7 % |