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House Prices Across NZ Are Largely On The Rise Again

15 March 2018

14 October 2021

Just as Auckland first-home buyers are getting over the shock of finding it might take 16 years to save for a home, house prices across New Zealand are largely on the rise again.

Real Estate Institute of New Zealand’s latest data shows median house prices in New Zealand increased 6.9 per cent last month to NZ$530,000, up from NZ$496,000 from the previous February.

In Auckland, prices rose 3.7 per cent, up to NZ$858,000 from NZ$827,000 the previous year, REINZ says in a press release.

The number of properties sold in Auckland during February increased by 2 per cent to 1,600.

Hawke’s Bay was a stand-out. The region saw prices rise 18.4 per cent, to a record high of NZ$444,000, up from NZ$375,000.

“The Hawke’s Bay has seen record price increases for two months in a row now, with prices having increased NZ$26,000 since the end of 2017. Clearly the region is proving extremely popular,” REINZ Chief Executive Bindi Norwell says.

Median house prices increased in 14 out of 16 regions across New Zealand during February, compared to February 2017, she says, except the West Coast and Gisborne, which saw decreases of 10.7 per cent and 3.1 per cent respectively.

The editorial below reflects the views of the editorial contributor only and content may be out of date. This article is sourced from a previous JUNO issue. JUNO’s content comes from sources that it considers accurate, but we do not guarantee that the content is accurate. Charts are visually indicative only. JUNO does not contain financial advice as defined by the Financial Advisers Act 2008. Consult a suitably qualified financial adviser before making investment decisions.

Informed Investor's content comes from sources that Informed Investor magazine considers accurate, but we do not guarantee its accuracy. Charts in Informed Investor are visually indicative, not exact. The content of Informed Investor is intended as general information only, and you use it at your own risk.


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