Large Surge In Auckland House Prices

Auckland house prices surge 13 per cent
Monday Apr 13, 2015

Median house prices excluding Auckland were flat in March, but there was a 13pc jump in Auckland’s median house price. Photo / NZ Herald
Auckland house prices surged 13 per cent annually and are up $83,000, from $637,000 last March to $720,000 last month.

Real Estate Institute figures just out for the busiest month of the year showed Auckland’s strength drove the New Zealand-wide market up fast too: the national March median was $475,000, up $35,000
or 8 per cent compared to March last year and an increase of $45,000 or 10.5 per cent from February 2015.

But taking Auckland out of the mix led to a far less spectacular national result
“Excluding the impact of the Auckland region, the national median price was flat compared to February at $350,000 and $5000 (+1.4 per cent) higher compared to March 2014,” REINZ said.
Colleen Milne, REINZ chief executive, explained.

“March is the strongest sales month of the year, with almost 1400 more sales than for any of the past 12 months. While the increase in the number of sales is more or less spread across the country, the movement in the national median price is almost entirely an Auckland effect,” she said.


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