House Prices Still Hot

Latest REINZ figures show Auckland annual house price inflation running at 19.8%, up from 14.8% just a month ago; median eases slightly to NZ$555,000

Annual house price inflation in Auckland is now running at just under 20% according to the latest monthly figures from the Real Estate Institute.

The REINZ Stratified Housing Price Index, which adjusts for some of the variations in mix that can impact on the median price, shows that Auckland prices were up 19.8% in June compared with a year earlier. The index hist an all-time high for Auckland.

The annual inflation figure compares with just 14.8% a month earlier.

On a national basis, house price inflation is 8.4% higher than June 2012 and eased very sightly compared to May.  The Christchurch and Other South Island Price Indices also hit new record highs in June, with the Christchurch Index is up 10.6% and the Other South Island Index up 7.3%.

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