New Zealand’s average house price fell to $355,000 in December, a decrease of $12,500 compared with last month and up $3,000 from December 2010.
The number of properties sold was down, with 5,316 sales in December compared to 6,008 in November, according to the REINZ.
December house sales were up 21 percent, compared with the same time last year.
REINZ spokesperson, Helen O’Sullivan said “December has been a strong month for real estate sales in New Zealand, with this being the strongest level of transaction figures in December since 2007, and Auckland having its strongest December since 2006.”
- House prices have increased from 12 months ago, when New Zealand’s median house price was $352,000.
- The number of properties sold rose from 4,397 in December 2010 to 5,316 in December 2011.
- The average number of days to sell a house was 35, a decrease on the 39 days needed in December 2010.
On an annual basis, eight of the country’s twelve regions saw a rise in prices and four saw a fall.
Annual New Zealand House Price Changes
| Region | Median Price December 2011 |
Change since December 2010 |
| Northland | $289,000 | down 2.4 % |
| Auckland Region | $484,000 | up 6.5 % |
| Waikato / Bay of Plenty / Gisborne | $305,000 | down 3.2 % |
| Hawkes Bay | $272,000 | down 4.6 % |
| Manawatu / Wanganui | $221,000 | up 0.3 % |
| Taranaki | $285,000 | up 6.3 % |
| Wellington Region | $387,000 | down 3.3 % |
| Nelson / Marlborough | $332,000 | up 1.4 % |
| Canterbury / Westland | $325,000 | up 6.6 % |
| Central Otago Lakes | $435,000 | up 8.8 % |
| Otago | $245,000 | up 4.3 % |
| Southland | $196,000 | up 6.3 % |
| New Zealand | $355,000 | up 0.9 % |