REINZ Residential Highlights - March 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, 153 houses sold in Northland in March (February 2008: 184; March 2007: 302). The median price increased to $325,000, from $284,000 in February (March 2007: $306,000).

22 houses sold in the Whangarei County area (February 2008: 13; March 2007: 36). The median price eased slightly to $421,250 from $425,000 in February (March 2007: $435,000).

66 houses sold in Whangarei City in March (February 2008: 80; March 2007: 139). The median price eased to $310,500 (February 2008: $328,500; March 2007: $300,000).

Auckland
The median house price in Auckland rose to $437,500 in March, up from $427,0000 in February (March 2007: $443,000). 1,621 houses sold during the month, down on the 1,772 sold in February and down on the 3,884 sold in March 2007.

The median sales price for a North Shore City home dipped to $510,000 in March, from $525,000 in February (March 2007: $520,000). 269 houses sold, down on the 291 sold in February (March 2007: 683).

Sales volume fell in Waitakere City in March with 210 houses sold (February 2008: 246; March 2007: 505). The median price dipped to $373,634 from $375,000 in February (March 2007: $380,000).

The median price for an Auckland City house reached $510,000 in March, from $439,500 in February (March 2007: $507,500). 551 houses sold (February 2008: 558; March 2007: 1,291).

352 houses sold in Manukau City in March (February 2008: 362; March 2007: 827). The median price also eased to $390,000 from $395,000 in February (March 2007: $415,000).

Sales declined in Papakura with 46 houses sold (February 2008: 63; March 2007: 140).The median price also eased to $329,500 (February 2008: $345,000; March 2007: $332,500).

The median price for a Metropolitan Auckland house rose to $440,400 in March (February 2008: $425,500; March 2007: $449,000). 1,428 houses sold (February 2008: 1,520; March 2007: 3,446).

102 houses sold in Rodney District, one more than the 101 sold in February (March 2007: 215). The median price fell to $482,500 from $485,000 in February (March 2007: $450,000).

The median price for a Franklin District home rose to $365,000 in March (February 2008: $350,000; March 2007: $356,500). 43 houses sold (February 2008: 70; March 2007: 132).

48 houses sold in Thames/Coromandel in March, down on the 81 sold in February (March 2007: 91). The median price eased to $365,000 from $440,000 in February. (March 2007: $395,000).

The median price for an Outer Auckland home eased to $420,000 in March from $432,500 in February. In total, 193 houses sold, down on the 252 sold in February. In March 2007, 438 houses sold with a median sales price of $420,500.

Waikato/Bay of Plenty/Gisborne
The median price for a house in the Waikato/Bay of Plenty/Gisborne region eased to $320,000 in March, from $333,000 in February (March 2007: $320,000). In total, 677 houses sold, down on the 951 sold in February and the 1,622 sold in March last year.

Sales fell in Waikato Country in March with 150 houses sold (February 2008: 187; March 2007: 341). The median price eased to $253,750 (February 2008: $290,000; March 2007: $255,000).

The median price for a Hamilton City house eased to $332,000 in March (February 2008: $360,000; March 2007: $343,500). In total, 149 houses sold, down on the 209 and 368 sold in February 2008 and March 2007 respectively.

Sales volume eased in Western Bay of Plenty Country with 38 houses sold, down on the 84 sold in February. The median price increased to $440,000 from $400,000 in February. In March 2007, 139 houses sold with a median price of $395,000.

The median price for a house in Mt Maunganui/Papamoa eased to $450,000 in March (February 2008: $470,000; March 2007: $433,500). 57 houses sold, down on the 77 and 112 sold in February 2008 and March 2007 respectively.

79 houses sold in Tauranga in March, down on the 105 sold in February (March 2007: 214). The median price dipped to $350,000 from $354,000 in February (March 2007: $362,000).

Rotorua’s median price eased to $254,000 in March (February 2008: $266,000; March 2007: $246,750). 78 houses sold, down on the 93 sold in February (March 2007: 178).

39 houses sold in Taupo in March, down on the 52 sold in February (March 2007: 78). The median price fell from $425,000 to $335,000 in March (March 2007: $340,000).

The median price for a King Country home eased to $152,000 in March (February 2008: $161,000; March 2007: $143,000). 15 houses sold (February 2008: 25; March 2007: 37).

The median price for a Gisborne City home dropped to $237,500 from $268,500 in February (March 2007: $2268,250). 34 houses sold in March (February 2008: 55; March 2007: 68).

No sales were recorded in Gisborne Country in March or February 2008. In March 2007, nine homes sold with a median sales price of $200,000.

The median price for a house in Eastern Bay of Plenty Country eased to $271,250 in March, from $291,000 in February and $255,000 in March 2007. 38 houses sold, down on the 64 sold in February (March 2007: 78).

Hawke's Bay
Sales volume eased in the Hawke's Bay in March with 180 houses sold (February 2008: 283; March 2007: 369). The median price fell to $267,000 (February 2008: $270,000; March 2007: $268,000).

The median price for a house in Napier City dipped to $279,000 from $311,250 in February (March 2007: $290,500). 78 houses sold in March (February 2008: 130; March 207: 162).

63 houses sold in Hastings City in March, down on the 105 sold in February (March 2007: 140). The median price rose to $284,000 from $260,000 in February (March 2007: $266,250).

Hawke's Bay Country’s median price reached $298,000 in March (February 2008: $251,250; March 2007: $292,000). 13 homes sold, down on the 18 sold in February (March 2007: 21).

Manawatu/Wanganui
The median price for a house in the Manawatu/Wanganui region was steady at $225,000 in both March and February (March 2007: $230,000). 224 houses sold during the month, down on both the 376 and 534 sold in February 2008 and March 2007 respectively.

The median sales price for a house in Palmerston North City rose to $294,500 in March (February 2008: $262,000; March 2007: $270,000). 82 houses sold during the month, down on the 131 sold in February 2008 and the 193 sold in March 2007.

Sales eased in Manawatu Country with 16 houses sold (February 2008: 38; March 2007: 73). The median price fell to $211,000, from $225,500 in February (March 2007: $191,000).

The median price in the Manawatu Region reached $255,000 in March (February 2008: $240,000; March 2007: $242,500). 160 houses sold (February 2008: 251; March 2007: 393).

41 houses sold in Wanganui City in March, down on the 89 sold in February (March 2007: 104). The median price increased to $180,000 (February 2008: $170,000; March 2007: $192,500).

The median sales price in Wanganui Region fell slightly to $174,500 in March (February 2008: $175,000; March 2007: $185,000). 64 houses sold (February 2008: 125; March 2007: 141).

Taranaki
The median sales price for a house in Taranaki eased to $253,500 in March from $265,000 in February (March 2007: $260,500). 155 houses sold, down on the 188 sold in February (March 2007: 264).

28 houses sold in the Taranaki Country region in March (February 2008: 25; March 2007: 51). The median price eased to $212,500 (February 2008: $220,000; March 2007: $160,000).

The median sales price for a New Plymouth City house rose to $340,000 (February 2008 & March 2007:$320,000). 62 houses sold in March (February 2008: 101; March 2007: 113).

Wellington
Wellington’s median price reached $410,000 in March (February 2008: $375,800; March 2007: $375,000). 603 houses sold, down on the 748 sold in February (March 2007: 1,251).

51 houses sold in the Wairarapa in March (February 2008: 59; March 2007: 139). The median price eased to $243,000 in March (February 2008: $258,000; March 2007: $235,000).

The median price for an Upper Hutt house rose to $350,000 in March (February 2008: $325,000; March 2007: $315,000). 61 houses sold (February 2008: 97; March 2007: 120).

111 houses sold in the Hutt Valley in March, down on the 152 sold in February (March 2007: 272). The median price also eased to $315,000 from $340,000 in February (March 2007: $322,000).

The median price for a house in Otaki/Paekakariki reached $358,000 in March (February 2008: $326,500; March 2007: $330,000). 65 houses sold, down on the 86 sold in February (March 2007: 153).

Sales volume rose in Pukerua Bay/Tawa in March, with 71 houses sold (February 2008: 67; March 2007: 101). The median price also rose to $385,000, up from $360,000 in February (March 2007: $403,500).

45 houses sold in Central Wellington in March (February 2008: 78; March 2007: 89). The median price climbed to $540,000, well up on February’s $405,000 median (March 2007: $395,000).

Nelson/Marlborough
The median price for a Nelson/Marlborough house dipped to $315,000 in March, from $351,750 in February (March 2007: $326,500). 203 houses sold, (February 2008: 236; March 2007: 349).

70 houses sold in Nelson City in March (February 2008: 86; March 2007: 118). The median price eased to $307,500 (February 2008: $350,000; March 2007: $322,500).

The median price for a house in the Nelson Council zone eased to $338,000 in March (February 2008: $355,000; March 2007: $328,000). 119 houses sold, down on the 137 sold in February (March 2007: 207).

84 houses sold in Marlborough in March (February 2008: 99; March 2007: 142). The median price eased to $311,250 from $350,000 in February and $325,000 in March 2007.

Canterbury/Westland
Sales volume eased in Canterbury/Westland with 821 houses sold in March (February 2008: 953; March 2007: 1,514). The median price eased from $320,000 in February to $311,000 in March (March 2007: $300,000).

The median price for a house in Christchurch City reached $335,000 in March (February 2008: $330,000; March 2007: $325,000). 540 houses sold (February 2008: 656; March 2007: 974).

The median price for a home in Rangiora eased to $300,000 in March (February 2008: $326,500; March 2007: $305,000). 29 houses sold (February 2008: 42; March 2007: 53).

The median price for a North Canterbury house rose to $347,000 in March, well up on February’s median price of $285,000 (March 2007: $310,000). 27 houses sold during the month, up on the 23 sold in February and down on the 47 sold in March 2007.

The median price for a house in Canterbury Country eased to $385,000 in March, down from $399,000 in February. In total, 30 houses sold during the month, down on the 45 sold in February. In March 2007, 62 houses sold with a median sales price of $322,500.

50 houses sold in Mid Canterbury in March (February 2008: 45; March 2007: 82). The median price dipped to $267,500 from $280,000 in February (March 2007: $260,000).

53 houses sold in Timaru in March, up on the 43 sold in February (March 2007: 90). The median sales price also rose to $230,000 (February 2008: $218,000; March 2007: $210,000).

The median price for a house on the West Coast eased to $180,000 in March (February 2008: $204,500; March 2007: $185,000). 35 houses sold, down on the 42 sold in February (March 2007: 63).

281 houses sold in Outer Canterbury in March (February 2008: 297; March 2007: 540). The median price eased to $268,000 in March from $285,000 in February (March 2007: $259,000).

Central Otago Lakes
85 houses sold in March, down on the 99 sold in February (March 2007: 151). The median price dipped to $480,000 in March, from $515,000 in February (March 2007: $416,000).

The median price for a house in Central Otago rose to $450,000 in March (February 2008: $378,500; March 2007: $356,750). 53 houses sold (February 2008: 60; March 2007: 84).

Sales volume eased in Queenstown with 32 houses sold in March (February 2008: 39; March 2007: 67). The median price fell to $502,500 (February 2008: $565,000; March 2007: $491,000).

Otago
242 houses sold in Otago in March (February 2008: 334; March 2007: 420). The median price increased to $241,000 from $231,500 in February (March 2007: $230,000).

Sales volume eased in North Otago with 50 houses sold (February 2008: 58; March 2007: 66). The median price rose to $227,000 from $202,000 in February (March 2007: $194,500).

The median price in Dunedin City rose to $265,500 in March from $240,000 in February (March 2007: $250,000). 162 houses sold (February 2008: 244; March 2007: 311).

Sales volume fell in South Otago with 26 houses sold (February 2008: 29; March 2007: 34). The median price eased to $139,500 (February 2008: $145,000; March 2007: $140,500).

Four houses sold in East Otago in March (February 2008: three; March 2007: nine). The median price eased to $161,250 from $325,000 in February (March 2007: $215,000).

Southland
Sales volume eased in Southland with 165 houses sold (February 2008: 232; March 2007: 329). The median price eased to $190,500 (February 2008: $201,000; March 2007: $157,000).

Sales volume eased in Invercargill in March with 101 houses sold (February 2008: 150; March 2007: 237). The median price increased to $213,000 (February 2008 $211,000; March 2007: $165,000).

The median price for a house in Gore eased to $145,000 in March, from $168,500 in February (March 2007: $130,000). 37 houses sold, just down on the 44 sold in February (March 2007: 47).