REINZ residential highlights – May 2008

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Northland
In total, 103 houses sold in Northland in May (April 2008: 101; March 2007: 275). The median price eased to $310,000 from $359,000 in April (May 2007: $330,000).

Ten houses sold in the Whangarei County area in May (April 2008: 15; May 2007: 37). The median price eased to $428,000 from $518,000 in April (May 2007: $390,000).

52 houses sold in Whangarei City in May, up from 49 in April. The median price eased to $288,500 from $334,000 in April. In May 2007, 124 houses sold with a median price of $317,500.

Auckland
The median house price in Auckland eased to $447,500 in May (April 2008 & May 2007: $450,000). In total, 1,388 houses sold, up on the 1,350 sold in April (May 2007: 3,300).

The median sales price for a North Shore City home eased slightly to $495,000 in May, from $510,000 in April (May 2007: $535,000). 250 houses sold during the month, one more than the 249 sold in April (May 2007: 515).

Sales volume rose in Waitakere City in May with 171 houses sold (April 2008: 170; May 2007: 452). The median price also rose to $380,000 (April 2008: $370,000; May 2007: $378,113).

The median price for an Auckland City house reached $504,500 in May (April 2008: $463,000; May 2007: $492,000). 522 houses sold in May, up on the 491 sold in April (May 2007: 1,064).

255 houses sold in Manukau City in May (April 2008: 264; May 2007: 756). The median price eased to $400,000 from $426,500 in April and $433,250 in May 2007.

Sales rose in Papakura with 37 houses sold (April 2008: 26; May 2007: 112).The median price also increased to $312,500 in May from $295,000 in April (May 2007: $317,500).

The median price for a Metropolitan Auckland house reached $451,000 in May, up on April’s median of $445,000 (May 2007: $451,000). In total, 1,235 houses sold, up on the 1,200 sold in April (May 2007: 2,899).

69 houses sold in Rodney District, down on the 73 sold in April (May 2007: 203). The median price dipped to $475,000 from $500,000 in April (May 20077: $475,000).

The median price for a Franklin District home eased to $365,000 in May, from $410,000 in April. 44 houses sold in May, one more than the 43 sold in April. In May 2007, 120 houses sold with a median sales price of $370,000.

40 houses sold in the Thames/Coromandel region in May, up on the 36 sold in April (May 2007: 78). The median price eased to $317,500 from $450,000 in April (May 2007: $377,500).

The median price for an Outer Auckland home eased to $405,000 in May, from $457,500 in April (May 2007: $420,000). In total, 153 houses sold (April 2008: 150; May 2007: 401).

Waikato/Bay of Plenty/Gisborne
The median price for a house in the Waikato/Bay of Plenty/Gisborne region eased to $310,000 in May (April 2008: $315,000; May 2007: $315,000). 582 houses sold, down on the 630 and 1,364 sold in April 2008 and May 2007 respectively.

Sales fell in Waikato Country in May with 111 houses sold (April 2008: 127; May 2007: 324). The median price eased slightly to $250,000 (April 2008: $258,000; May 2007: $240,000).

The median price for a Hamilton City house fell to $337,500 in May, from $340,000 in April (May 2007: $332,500). 160 houses sold in May, up from 149 in April (May 2007: 289).

Sales volume eased in Western Bay of Plenty Country in May with 30 houses sold, down on the 42 sold in April (May 2007: 96). The median price fell to $377,500 in May (April 2008: $405,000; May 2007: $370,000).

The median price for a house in Mt Maunganui/Papamoa eased to $395,500 in May, from $468,000 in April and $438,000 in May 2007. 41 houses sold, ten less than the 51 sold in April (May 2007: 92).

83 houses sold in Tauranga in May, up on the 74 sold in April (May 2007: 175). The median price reached $376,500, up from $352,500 in April (May 2007: $360,000).

Rotorua’s median price rose to $247,000 in May, from $237,500 in April (May 2007: $251,000). 69 houses sold in May, one more than the 68 sold in April (May 2007: 139).

32 houses sold in Taupo in May, up on the 15 sold in April (May 2007: 78). The median price eased to $315,000 from $317,500 in April (May 2007: $363,750).

The median price for a King Country home increased to $173,000 in May (April 2008: $160,000; May 2007: $160,000). Seven houses sold (April 2008: 17; May 2007: 24).

The median price for a Gisborne City home dropped to $200,000 from $222,000 in April (May 2007: $253,000). 27 houses sold, 12 less than the 39 sold in April (May 2007: 71).

Just one house sold in Gisborne Country in May, the same as in April 2008 and May 2007. The median price achieved reached $296,700 in May (April 2008: $110,000; May 2007: $620,000).

The median price for a house in Eastern Bay of Plenty Country reached $383,000 in May, up from $320,000 in April and $234,000 in May 2007. 21 houses sold, down on the 47 and 75 sold in April 2008 and May 2007 respectively.

Hawk'es Bay
Sales volume eased in the Hawkes Bay in May with 173 houses sold (April 2008: 161; May 2007: 298). The median price rose to $265,000 (April 2008: $275,000; May 2007: $277,000).

The median price for a house in Napier City reached $298,000 in May, up from $290,500 in April (May 2007: $299,000). 64 houses sold in May (April 2008: 73; May 2007: 122).

79 houses sold in Hastings City in May 2008, up on the 63 sold in April (May 2007: 120). The median price rose to $275,000 from $270,000 in April (May 2007: $282,500).

Hawkes Bay Country’s median price eased to $330,000 from $468,000 in April (May 2007: $450,000). In total, nine houses sold, up on the seven sold in April (May 2007: 11).

Manawatu/Wanganui
The median price for a house in the Manawatu/Wanganui region fell to $224,500 in May, from $239,000 in April (May 2007: $222,000). 226 houses sold (April 2008: 228; May 2007: 430).

The median sales price for a house in Palmerston North City rose to $295,000 in May, from $275,500 in April (May 2007: $286,000). 85 houses sold (April 2008: 94; May 2007: 122).

Sales eased slightly in Manawatu Country with 19 houses sold (April 2008: 21; May 2007: 61). The median price fell to $185,000 from $198,000 in April (May 2007: $192,000).

The median price in the Manawatu Region increased to $246,000 in May, from $245,000 in April (May 2007: $242,000). 156 houses sold (April 2008: 169; May 2007: 303).

47 houses sold in Wanganui City in May, five more than the 42 sold in April (May 2007: 84). The median price eased to $182,500, from $217,000 in April (May 2007: $179,500).

The median price in the Wanganui Region fell to $166,500 from $200,000 in April. 70 houses sold in May (April 2008: 59). In May 2007, 127 houses sold with a median price of $173,000.

Taranaki
The median price for a house in Taranaki rose to $285,000 in May (April 2008: $269,000; May 2007: $281,000). 158 houses sold, down on the 163 sold in April (May 2007: 210).

16 houses sold in the Taranaki Country region in May (April 2008: 23; May 2007: 32). The median price rose from $235,000 in April to $292,500 in May (May 2007:$207,500).

The median sales price for a New Plymouth City house also rose to $332,500 in May (April 2008: $307,500; May 2007: $330,000). 84 houses sold in May (April 2008: 80; May 2007: 123).

Wellington
Wellington’s median price rose to $388,000 in May, from $375,000 in April (May 2007: $385,000). 536 houses sold, down on the 560 sold in April (May 2007: 1,074).

38 houses sold in the Wairarapa in May (April 2008: 41; May 2007: 94). The median price increased to $268,500 from $230,000 in April and $263,750 in May 2007.

The median price for an Upper Hutt house eased slightly to $339,500 from $340,000 in April (May 2007: $324,000). 64 houses sold, down on the 85 sold in April (May 2007: 106).

97 houses sold in the Hutt Valley, two less than the 99 sold in April (May 2007: 201). The median price rose to $365,000, up from $315,000 in April (May 2007: $347,000).

The median price for a house in Otaki/Paekakariki reached $355,500 in May, up from $334,750 in April (May 2007: $365,000). 76 houses sold (April 2008: 66; May 2007: 150).

Sales improved in Pukerua Bay/Tawa in May, with 56 houses sold (April 2008: 52; May 2007: 132). The median price also rose to $387,500, from $381,850 in April (May 2007: $369,500).

28 houses sold in Central Wellington in May, down on the 44 sold in April (May 2007: 121). The median price increased to $448,584 in May, from $392,500 in April and $445,000 in May 2007.

Nelson/Marlborough
The median price for a Nelson/Marlborough house reached $337,000 in May, up from $336,500 in April and $328,000 in May 2007. 179 houses sold (April 2008: 194; May 2007: 307).

54 houses sold in Nelson City in May (April 2008: 60; May 2007: 90). The median price dipped to $321,425 from $325,000 in April (May 2007: $332,500).

The median price for a Nelson Council zone house rose slightly to $335,500 in May (April 2008: $333,000; May 2007: $334,250). 106 houses sold (April 2008: 109; May 2007: 172).

73 houses sold in Marlborough in May (April 2008: 85; May 2007: 135). The median price increased to $345,000 from $342,000 in April and $320,000 in May 2007.

Canterbury/Westland
619 houses sold in Canterbury/Westland in May, down from 643 in April (May 2007: 1,276). The median price eased slightly to $298,000 from $300,000 in April (May 2007: $305,000).

The median price for a house in Christchurch City eased to $315,000 in May, from $320,000 in April (May 2007: $330,000). 392 houses sold (April 2008: 419; May 2007: 800).

The median price for a home in Rangiora eased to $296,000 in May, from $359,000 in April (May 2007: $307,000). 25 houses sold (April 2008: 24; May 2007: 62).

The median price for a North Canterbury house rose to $355,500 in May (April 2008: $305,000; May 2007: $303,000). 15 houses sold, up on the 12 sold in April (May 2007: 49).

The median price for a Canterbury Country home reached $395,000 in May, up on the $355,000 achieved in April 2008 and May 2007. 27 houses sold (April 2008: 28; May 2007: 55).

28 houses sold in Mid Canterbury in May (April 2008: 36; May 2007: 69). The median price rose to $275,000 in May, up from $263,500 in April (May 2007: $250,000).

Sales increased in Timaru in May, with 49 houses sold (April 2008: 36; May 2007: 79). The median price dipped to $240,000 in May, from $241,250 in April (May 2007: $215,000).

The median price for a house on the West Coast remained steady at $180,000 in both May and April 2008 (May 2007: $195,500). 46 houses sold, up on the 37 sold in April (May 2007: 60).

227 houses sold in Outer Canterbury in May (April 2008: 224; May 2007: 476). The median price eased to $255,250 in May from $268,500 in April and $260,000 in May 2007.

Central Otago Lakes
79 houses sold in May, up on the 72 sold in April (May 2007: 124). The median price rose to $490,000 from $454,000 in April (May 2007: $485,000).

The median price for a house in Central Otago increased to $420,000 in May, from $385,000 in April (May 2007: $410,000). 41 houses sold (April 2008: 31; May 2007: 62).

Sales volume dipped in Queenstown with 38 houses sold in May (April 2008: 41; May 2007: 62). The median price rose to $540,000 from $530,000 in April (May 2007: $550,000).

Otago
183 houses sold in Otago in May, down from 211 in April (May 2007: 344). The median price increased slightly to $240,000 from $235,000 in April (May 2007: $240,000).

Sales volume eased in North Otago with 23 houses sold (April 2008: 30; May 2007: 51). The median price rose however, to $230,000 in May (April 2008: $192,500; May 2007: $187,000).

The median price for a house in Dunedin City increased to $259,000 in May from $245,000 in April (May 2007: $250,000). 145 houses sold (April 2008: 156; May 2007: 259).

Sales volume also fell in South Otago with 15 houses sold (April 2008: 17; May 2007: 22). The median price rose to $160,000, from $140,000 in April (May 2007: $166,500).

No houses sold in East Otago in May, compared with the eight sold with a median sales price of $190,500 in April. In May 2007, 12 houses sold with a median price of $261,250.

Southland
Sales volume eased in Southland with 147 houses sold (April 2008: 151; May 2007: 283). The median price also eased to $200,000 from $215,000 in April (May 2007: $177,000).

Sales volume increased in Invercargill in May with 98 houses sold (April 2008: 97). The median price dipped to $202,500 from $212,000 in April (May 2007: $189,000).

The median price for a house in Gore rose to $154,500 in May, up from $145,000 in April and $125,000 in May 2007. In total, 23 houses sold, two more than the 21 sold in April (May 2007: 46).