Median House Prices in February 2018
The median house price across New Zealand rose 6.9% in February compared to February 2017. The median New Zealand house price is now $530,000. Auckland prices seem to be moving again in 2018 and rose 4.6% from January to February.
The median price in Auckland is now $858,000. Of the 16 regions across New Zealand there were only 2 regions where prices did not increase which were the West Coast and Gisborne. Hawkes Bay set new records in January and again in February—now $444,000.
House Prices in January 2018
January saw the median house price across New Zealand increase by 7.1% compared to January 2017. For the first time in over 1 1/2 years the number of properties sold increased compared with the corresponding numbers a year ago.
It took 5 days longer to sell than in January 2017 and the number of properties sold by auction was up almost 4.5% compared to January last year. Otago and the Hawkes Bay set new record
median sales values in January 2018, Otago $475,000 and Hawkes Bay $438,000.
December Sales 2017
The month of December ended the year on a strong note with house prices up 5.8% for the 2017 calendar year. Of the 16 regions in the country, 13 saw prices increases in December. Only Marlborough, West Coast and Canterbury were negative.
New record high prices were recorded in Waikato up 11.7%, Jan-Dec to $525,000, the Bay of Plenty up 20.4% to $598,000 and Wellington up 4.7% to $560,000. The number of sales across NZ fell compared to December 2016.
November 2017 House Prices
November saw a large increase in the number of houses sold across New Zealand and was the largest increase over an October month for 6 years. Every region in the country except the West Coast saw sales numbers increase over October. Prices too increased in November across the country with Auckland showing the largest increase for the month at 3.8%. November saw record prices in the following areas:
September House Prices Down on August 2017 Figures
Nationally across New Zealand September house sales dropped significantly from August figures which were already down 20% compared to last year. The fall was another 8.5%. The reason almost certainly was people waiting for the result of the general election. Median prices showed no change in Auckland, Canterbury / Westland and Otago.
New Zealand Property Prices in August 2017
In August the number of properties sold across New Zealand was down by 20% compared to August last year. Every region throughout the country showed lower sales numbers than August 2016. Prices have however increased across the country last month. Auckland prices increased 1.2% compared to July. Southland, Nelson, Hawkes Bay, Manawatu / Whanganui and Marlborough all set new record price levels in August.
July Property Market 2017
The July property market reflected that of a July winter month. Auckland sales were down 12.6% on June and 26.8% on July last year with prices flat at 0% price increase for the 2nd month in a row. Hamilton saw slowing numbers of sales with a 0.4% growth in prices over the past 3 months. Christchurch values have dropped 0.2% over the past 3 months and sales numbers have also fallen.
Property Prices Slow Down June 2017
In June property markets continued to slow in many of the larger centres. Auckland sales were down 27% compared to June last year, the lowest June sales for the last 7 years. Prices were down about 3% over the past 3 months. Sales number have also fallen in Hamilton, Wellington and Dunedin. The Canterbury market is flat with little change from last month. Tauranga showed a small price increase of 1.6% for the past 3 months.
Regional Sales Volume Year on Year
Property prices nationally in New Zealand were steady in May but there were regional variances. In Auckland, Hamilton and Tauranga prices reached a plateau. In Christchurch prices dropped slightly. Wellington and Dunedin saw continued price increases but the strongest price increases have been in Rotorua, Hawkes Bay, Whangarei, Northland and the Kaipara district.
Prices Stabilise Across New Zealand
Following the big surge in the number of house and apartment sales in March, the market saw sale volumes fall and prices stabilise across New Zealand.
The holidays and wild weather (one of the wettest April months on record) no doubt were factors in the fall offs in sales volumes. The median price for New Zealand increased by 1.0%.