REINZ residential highlights - February 2008

To view your region quickly:

Northland
Auckland
Waikato/Bay Of Plenty/Gisborne
Hawke's Bay
Manawatu/Wanganui
Taranaki
Wellington
Nelson/Marlborough
Canterbury/Westland
Central Otago Lakes
Otago
Southland

Northland
In total, 184 houses sold in Northland in February (January 2008: 134; February 2007: 262). The median price eased to $284,000, from $328,000 in January (February 2007: $310,000).

13 houses sold in the Whangarei County area (January 2008: 20; February 2007: 31). The median price rose to $425,000 from $395,000 in January (February 2007: $420,000).

80 houses sold in Whangarei City in February (January 2008: 66; February 2007: 114). The median price rose to $328,500 (January 2008: $313,500; February 2007: $310,000).

Auckland
The median house price in Auckland eased to $427,000 in February, from $432,750 in January (February 2007: $430,000). 1,772 houses sold during the month, up on the 1,550 sold in January and down on the 3,085 sold in February 2007.

The median sales price for a North Shore City home increased to $525,000 in February (January 2008: $495,000; February 2008: $503,500). In total, 291 houses sold, up on the 248 sold in January (February 2007: 549).

Sales volume rose on a monthly basis in Waitakere City with 246 houses sold in February (January 2008: 186; February 2007: 410). The median price dipped to $375,000 from $381,900 in January (February 2007: $380,500).

The median price for an Auckland City house rose to $439,500 (January 2008: $433,000; February 2007: $462,000). 558 houses sold (January 2008: 485; February 2007: 945).

362 houses sold in Manukau City in February (January 2008: 370; February 2007: 699). The median price also eased to $395,000 from $430,000 in January (February 2007: $418,000).

Sales improved in Papakura with 63 houses sold (January 2008: 51; February 2007: 101).The median price also increased, to $345,000 (January 2008: $305,000; February 2007: $301,000).

The median price for a Metropolitan Auckland house fell to $425,500, from $429,750 in January (February 2007: $431,500). 1,520 houses sold (January 2008: 1,340; February 2007: 2,740).

101 houses sold in Rodney District, four less than the 105 sold in January (February 2007: 188). The median price fell to $485,000 from $526,000 in January (February 2007: $482,750).

The median price for a Franklin District house eased to $350,000 (January 2008:  $370,000; February 2007: $347,000). In total, 70 houses sold (January 2008: 57; February 2007: 95).
81 houses sold in Thames/Coromandel in February, well up on the 48 sold in January (February 2007: 98). The median price eased to $440,000 from $472,000 in January (February 2007: $396,250).

The median price for an Outer Auckland home eased to $432,500 in February from $460,000 in January (February 2007: $425,000). 252 houses sold, up on the 210 sold in January (February 2007: 381).

Waikato/Bay of Plenty/Gisborne
The median price for a house in the Waikato/Bay of Plenty/Gisborne region reached $333,000 in February, up from $320,000 in January (February 2007: $310,000). In total, 951 houses sold, well up on the 712 sold in January (February 2007: 1,485).

Sales rose in Waikato Country in February with 187 houses sold (January 2008: 108; February 2007: 307). The median price also rose to $290,000 (January 2008: $255,000; February 2007: $242,000).

The median price for a Hamilton City house reached $360,000 in February (January 2008: $325,000; February 2007: $328,000). 209 houses sold (January 2008: 155; February 2007: 335).

Sales volume increased in Western Bay of Plenty Country with 84 houses sold, up on the 71 sold in January. The median price increased to $400,000 from $397,000 in January. In February 2007, 125 houses sold with a median price of $370,000.

The median price for a house in Mt Maunganui/Papamoa increased to $470,000 in February (January 2008: $410,500; February 2007: $410,250). 77 houses sold, up on the 60 sold in January and down on the 109 sold in February 2007.

105 houses sold in Tauranga in February, up on the 96 sold in January (February 2007: 173). The median price rose to $354,000 from $341,500 in January (February 2007: $345,000).

Rotorua’s median price eased to $266,000 in February (January 2008: $281,000; February 2007: $233,500). 93 houses sold, up on the 81 in January (February 2007: 155).

52 houses sold in Taupo in February, down on the 58 sold in January (February 2007: 89). The median price rose to $425,000, from $362,500 in January (February 2007: $390,000).

The median price for a King Country home rose to $161,000 in February, up from $146,000 in January. In total, 25 houses sold (January 2008: 18). In February 2007, 40 houses sold with a median price of $166,500.
The median price for a Gisborne City home dipped to $268,500 from $278,000 in January (February 2007: $255,000). 55 houses sold (January 2008: 27; February 2008: 67).

No sales were recorded in Gisborne Country in February. In January 2008, three sold with a median price of $150,000 and in February 2007, three sold with a median price of $193,000.

The median price for a house in Eastern Bay of Plenty Country increased to $291,000 in February, from $253,500 in January (February 2007: $304,000). 64 houses sold, up on the 35 sold in January (February 2007: 82).

Hawke's Bay
Sales volume increased in the Hawkes Bay in February with 283 houses sold (January 2008: 217; February 2007: 334). The median price eased to $270,000 from $280,000 in January (February 2007: $272,000).

The median price for a house in Napier City reached $311,250 in February (January 2008: $292,500; February 2007: $300,000). 130 houses sold during the month, well up on the 94 sold in January (February 2007: 151).

105 houses sold in Hastings City in February, up on the 87 sold in January (February 2007: 109). The median price eased to $260,000 from $285,000 in January (February 2007: $275,000).

Hawkes Bay Country’s median price eased to $251,250 in February, from $292,500 in January. In total, 18 houses sold, three more than the 15 sold in January. In February 2007, 35 houses sold with a median price of $315,000.

Manawatu/Wanganui
The median price for a house in the Manawatu/Wanganui region eased to $225,000 in February (January 2008: $230,000; February 2007: $221,500). In total, 376 houses sold, well up on the 270 sold in January (February 2007: 462).

The median sales price for a house in Palmerston North City dipped to $262,000 in February, from $269,000 in January. 131 houses sold during the month, well up on the 95 sold in January. In February 2007, 164 houses sold with a median sales price of $278,300.

Sales rose in Manawatu Country with 38 houses sold (January 2008: 24; February 2007: 56). The median price rose to $225,500, from $211,000 in January (February 2007: $215,000).

The median price in the Manawatu Region dipped to $240,000 in February (January 2008: $250,000; February 2007: $240,000). 251 houses sold (January 2008: 176; February 2007: 323).

89 houses sold in Wanganui City in February, up on the 68 sold in January (February 2007: 99). The median price eased to $170,000 (January 2008: $179,500; February 2007: $190,000).

The median sales price in Wanganui Region eased to $175,000 in February (January 2008: $179,500; February 2007: $185,000). 125 houses sold during the month, up on the 94 sold in January (February 2007: 139).

Taranaki
The median sales price for a house in Taranaki increased to $265,000 in February (January 2008: $263,000; February 2007: $265,000). 188 houses sold, up on the 173 sold in January, and slightly down on the 213 sold in February 2007.

25 houses sold in the Taranaki Country region in February (January 2008: 27; February 2007: 42). The median price eased to $220,000 (January 2008: $285,000; February 2007: $250,000).

The median sales price for a New Plymouth City house rose to $320,000 (January 2008: $311,000; February 2007: $323,375). 101 houses sold (January 2008: 74; February 2007: 94).

Wellington
Wellington’s median price increased to $375,800 in February (January 2008: $266,750; February 2007: $370,500). In total, 748 houses sold during the month, well up on the 594 sold in January (February 2007: 972).

59 houses sold in the Wairarapa in February (January 2008: 60; February 2007: 86). The median price reached $258,000, up from $256,500 in January (February 2007: $232,000).

The median price for an Upper Hutt house eased to $325,000 (January 2008: $326,500; February 2007: $321,100). 97 houses sold (January 2008: 58; February 2007: 114).

152 houses sold in the Hutt Valley in February, up on the 135 sold in January (February 2007: 179). The median price increased to $340,000 (January 2008: $310,000; February 2007: $320,000).
 
The median price for a house in Otaki/Paekakariki rose to $326,500 in February (January 2008: $325,500; February 2007: $320,000). 86 houses sold, up on the 74 sold in January (February 2007: 137).

Sales eased in Pukerua Bay/Tawa in February, with 67 houses sold (January 2008: 75; February 2007: 90). The median price fell to $360,000 from $368,000 in January (February 2007: $347,500).


78 houses sold in Central Wellington in February (January 2008: 38; February 2007: 88). The median price eased to $405,000 however, from $453,500 in January (February 2007: $486,250).

Nelson/Marlborough
The median price for a Nelson/Marlborough house rose to $351,750 in February (January 2008: $340,000; February 2007: $310,000). 236 houses sold during the month, up on the 212 sold in January (February 2007: 357).

86 houses sold in Nelson City in February (January 2008: 77; February 2007: 118). The median price increased to $350,000 (January 2008: $340,000; February 2007: $300,000).

The median price for a house in the Nelson Council zone reached $355,000 in February, up from $340,000 in January (February 2007: $320,250). 137 houses sold, up on the 130 sold in January (February 2007: 214).

99 houses sold in Marlborough in February (January 2008: 82; February 2007: 143). The median price increased to $350,000 from $343,700 in January (February 2007: $300,000).

Canterbury/Westland
Sales volume improved in Canterbury/Westland with 953 houses sold in February (January 2008: 780; February 2007: 1,352). The median price increased from $310,000 in January to $320,000 in February (February 2007: $297,000).
 
The median price for a house in Christchurch City reached $330,000 in February (January 2008: $325,500; February 2007: $315,000). In total, 656 houses sold (January 2008: 524; February 2007: 916).

The median price for a home in Rangiora eased to $326,500 in February (January 2008:  $362,500; February 2007: $293,000). 42 houses sold (January 2008: 26; February 2007: 41).

The median price for a North Canterbury house rose to $285,000 in February (January 2008: $275,500). 23 houses sold during the month (January 2008: 30). In February 2007, 46 houses sold with a median price of $284,500.

The median price for a house in Canterbury Country rose to $399,000 in February (January 2008: $388,750; February 2007: $342,500). 45 houses sold, up on the 34 sold in January (February 2007: 68).

45 houses sold in Mid Canterbury in February (January 2008: 28; February 2007: 49). The median price rose to $280,000, up from $230,500 in January (February 2007: $246,000).

43 houses sold in Timaru in February, six less than the 49 sold in January (February 2007: 61). The median price eased to $218,000 from $219,000 in January (February 2007: $205,000).

The median price for a house on the West Coast eased to $204,500 in February (January 2008: $210,000; February 2007: $190,100). 42 houses sold, up on the 38 sold in January (February 2007: 67).

297 houses sold in Outer Canterbury in February (January 2008: 256; February 2007: 436). The median price increased to $285,000 from $265,000 in January (February 2007: $250,000).

Central Otago Lakes
99 houses sold in February, down on the 118 sold in January (February 2007: 168). The median price rose to $515,000, up from $476,500 in January (February 2007: $440,750).

The median price for a house in Central Otago eased to $378,500 in February (January 2008: $449,000; February 2007: $332,000). 60 houses sold (January 2008: 77; February 2007: 89).

Sales volume eased in Queenstown in February with 39 houses sold (January 2008: 41; February 2007: 79). The median price dipped to $565,000 (January 2008: $585,000; February 2007: $570,000).

Otago
334 houses sold in Otago in February (January 2008: 243; February 2007: 400). The median price eased to $231,500 (January 2008: $235,000; February 2007: $230,000).

Sales volume increased in North Otago with 58 houses sold (January 2008: 44; February 2007: 56). The median price rose to $202,000 from $174,750 in January (February 2007: $172,500).

The median price in Dunedin City dipped to $240,000 in February from $250,000 in January (February 2007: $250,000).244 houses sold (January 2008: 181; February 2007: 285).

Sales volume improved in South Otago with 29 houses sold (January 2008: 12; February 2007: 48). The median price rose to $145,000 (January 2008: $135,000; February 2007: $162,500).

Three houses sold in East Otago in February (January 2008: six; February 2007: 11). The median price rose substantially to $325,000 (January 2008: $181,500; February 2007: $215,000).

Southland
Sales volume improved in Southland with 232 houses sold (January 2008: 183; February 2007: 267). The median price eased to $201,000 (January 2008: $225,000; February 2007: $165,000).

Sales volume increased in Invercargill in February with 150 houses sold (January 2008: 113; February 2007: 190). The median price eased to $211,000 from $232,000 in January (February 2007: $177,000).

The median price for a house in Gore increased in February to $168,500 (January 2008: $155,500; February 2007: $130,000). In total, 44 houses sold, well up on the 26 sold in January and the 40 sold in February last year.