South's average house price soars

Sunday 24 October 2004

Median house prices in Southland rose well above the annual national median during the past year, Real Estate Institute of New Zealand figures show.

By The Landlord

The median Southland house price in September was $132,000, up from $95,000 in September 2003, a rise of 38.9 percent – well above the national median rise of 16.3 percent.

Winton experienced the biggest median gain, up from $87,500 in September 2003 to $162,000 in September 2004. Invercargill rose from $104,000 to $119,000, Gore from $70,500 to $81,000, while Riverton remained steady rising from $113,250 to $113,750.

Queenstown, Te Anau and Bluff median prices all dropped.

Te Anau median prices dropped from $195,000 to $175,000, Bluff from $61,000 to $57,450 and Queenstown from $443,000 to $405,000.

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