REINZ warns of tighter housing market heading into summer; Auckland median sale price hits new high; National stratified measure hits new high in Sept
The Real Estate Institute of New Zealand (REINZ) is warning of a tighter housing market going into the end of the year after the traditional spring rush of listings was not as strong this year.
That was reflected in rising median house sale prices across the country, REINZ CEO Helen O’Sullivan said.
The median house sale price in Auckland continued to rise, up 1.9% from August to a new record high of NZ$515,000 in September, the REINZ said.
However, despite the rise, a smoother measure of prices – a stratified index developed with help from the Reserve Bank – showed prices in Auckland eased slightly from August.