Median house prices rise in September

Tuesday 19 October 2004

The national median selling price for New Zealand homes bounced back in the month of September - rising to $250,000 - after falling in August, figures released today show.

By The Landlord

The figures, issued by the Real Estate Institute of New Zealand (REINZ), showed a $3000 rise in median prices, after they fell by $2000 in August.

REINZ national president Howard Morley said the rise defied widespread predictions of a fall in house prices, particularly in the Auckland market.

The $250,000 price was a new record.

However the increase came in the face of a further decline of 4.1% in the number of sales, from 8191 sales in August to 7854 in September. The figure was well down on the 10,687 houses sold in September 2003.

Morley most of the decline occurred in the under $400,000 section of the market.

Rising interest rates were dampening activity in the market, but values were remaining relatively steady with seven regions experiencing increases, three decreases and one region an unchanged median.

Read More - Opens in a new window
Commenting is closed

House Prices

No stopping Capital price rises

There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.


NZ proptech start-up scores major investor

Auckland-based commercial property disrupter, Jasper, has raised $2.3 million in seed funding following investment from European asset manager M7 Real Estate.


LVR limits slow down investors

LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.

Site by PHP Developer