Local housing price rises ease

The national median house price in August was $215,000, up 1.8 per cent on $211,250 in July and 16.2 per cent higher than $185,000 in August 2002, latest figures from the Real Estate Institute of New Zealand Institute show.

Christchurch City's median price reached $185,000 for the month, only $250, or 0.14 per cent, on July's median price of $184,750 but still about 18 per cent ahead of the $157,000 median achieved in August 2002. Total sales peaked to 894, up from both the previous month's 870 sales and the 694 sales recorded the year before.

Across the Canterbury-Westland region prices lost ground, with the median price dropping to $162,500 in August from $165,000 the month before.

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