House Price Records Smashed Across New Zealand In March
Record median house prices are being seen across multiple regions of New Zealand as the Auckland market shows its strength and pushes the Halo Effect of rising median prices across the country, according to the latest figures released today by REINZ, source of the most recent, complete and accurate real estate data in New Zealand.
Demonstrating that recent fears of the Auckland market cooling off were overstated, median prices across the city have rebounded and shot through $800k for the first time, to a new record high of $820,000.
Record median house prices have also been seen in Waikato/Bay of Plenty, Wellington, Nelson/Marlborough, Canterbury/Westland, and extraordinary growth in Central Otago Lakes.
9,527 dwellings sold in New Zealand in March 2016, up 30.7% on February and up 8.2% on March 2015. This is the highest number of sales in March since 2007.
On a seasonally adjusted basis the number of dwellings sold rose by 5.5% compared to February
National median price of $495,000, up $20,000 (+4.2%) on March 2015 and up 10.0% on February
New record national median prices across New Zealand, New Zealand excluding Auckland, Auckland, Waikato/Bay of Plenty, Wellington, Nelson/Marlborough, Canterbury/Westland and Central Otago Lakes
A 27% rise in the number of sales over $1 million between March 2016 and March 2015 – from 1,023 to 1,301
20,180 dwellings sold by auction in the 12 months to March 2016, representing 22.0% of all sales, an increase of 38% in
the number sold by auction in the 12 months to March 2015
Excluding the impact of the Auckland region, the national median price rose $35,000 to $385,000 compared to March