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at a glance

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Sector information summarises trends and developments in the building and housing sector. 

older reports

Previous versions of  the building and housing sector trends reports are available on request.

Sale prices

Updated:  21 December 2011

House prices increasing

The national median house sale price was $367,500 in November 2011 compared with $359,000 in October and $350,000 in September, according to the Real Estate Institute of New Zealand (REINZ). The November median sale price increased by 2.1% compared to November 2010.

The REINZ House Price Index1  rose 2.6% from November 2011 compared to November 2010.

Median sale prices2 in November 2011 were:

  • $490,000 in Auckland, a 2.7% rise from $477,000 in November 2010
  • $383,250 in Wellington, a 4.2% fall from $400,000 in November 2010
  • $335,000 in Canterbury, a 9.1% rise from $307,000 in November 2010  

Figure 11: Median sale price of residential property (three-monthly to November 2011) Source: Real Estate Institute of New Zealand.

1The REINZ House Price index is based on a stratfied median house price. This reduces the effect of compositional change (i.e. a disproportionately high number of specific types of houses in a particular month).

2Based on regions.