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Prices rocket in city housing boom

...The Bank of New Zealand also reported this week that Auckland house prices are 11.9 per cent higher than a year ago, taking the cost of the average home from $260,000 to $290,000.

Saturday, November 23rd 2002

Figures from the Real Estate Institute show the surge is greatest in Auckland City, where the average house now changes hands for $335,000.
Motorway fright has led to runaway demand for inner-city suburbs.
Prices are rising at the rate of nearly $500 a day, says real estate company Barfoot and Thompson.
But the North Shore is showing signs of cooling. Its median house price has dropped $2000 to $298,000 in the past month.
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