Sales prices
Updated: 19 March 2010
National house price growth in December and January exceeds growth in earlier months
According to REINZ, the median house price in New Zealand as a whole increased by 6.1 percent from $330,000 in February 2009 to $350,000 in February 2010, after a 9.6 percent increase in the year to December 2009 and a 7.7 percent increase in the year to January 2010.
In Auckland, the median house price grew by 7.6 percent in the year to February 2010 to $453,500; following on from an increase of 6.8 percent in the year to December 2009, and 6.8 percent in the year to January 2010.
Figure 11: Median sale price of residential property (to February 2010)
Source: Real Estate Institute of New Zealand
The value of New Zealand’s total housing stock1 peaked at $616 billion in the March 2008 quarter, and then fell to $568 billion in the December 2008 quarter. The value of the housing stock was $591 billion in the September 2009 quarter (that latest data available), a 1.5 percent increase from the September 2008 quarter.