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.

Read More - Opens in a new window
Commenting is closed

House Prices

House price drops are short-lived - Alexander

Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.


Industrial holdings leave Provincia in strong position

Tales of strife and problems abound in the commercial property world these days, but the impact of the Covid-19 pandemic has not been as devastating for all commercial players.


OCR reaction: Reserve Bank open to lower, negative rates

Economists say that the Reserve Bank has left the door open to lower or even negative rates, as it kept the official cash rate on hold in its Monetary Policy Statement (MPS) today.

Site by PHP Developer