P R O P E R T Y M A R K E T U P DAT E
RECORD MEDIAN HOUSE PRICES FOR HALF OF NZ BY BINDI NORWELL, REINZ CEO
Median house prices across New Zealand increased by 16.4% in August to $675,000, up from $580,000 in August 2019 and up from $659,000 in July (a 2.4% lift) and every region in the country saw an annual increase in median house prices, according to the latest data from the Real Estate Institute of New Zealand (REINZ). Median house prices for New
• Waikato with a 16.7% increase
• Canterbury with a 13.0%
Zealand excluding Auckland
to $628,000 up from $538,000
increase to $497,000 up from
increased by 14.2% to a new record
at the same time last year, and
$440,000 at the same time last
median price of $570,000, up from
the fourth record median price in
year. Additionally, 2 Districts
$499,000 in August last year and
a row. Additionally, 3 districts
within the Canterbury region saw
up from $557,500 in July this year.
in the Waikato region saw record
record median prices –
median prices – Matamata-Piako
Ashburton District ($391,500)
District ($587,000), Otorohanga
and Waimakariri District
District ($418,500) and Waipa
($515,000)
District ($715,000)
Additionally, Auckland’s median house price increased by 16.0% to $950,000 a new record high up from $819,000 at the same time
• Otago with a 17.2% increase to
last year, and up from $918,097 in
• Manawatu/Wanganui with a
$580,000 up from $495,000 at
July this year (a 3.5% increase).
the same time last year
Over and above Auckland, 7 regions saw record median prices during August: • Northland with a 16.6% increase
to $590,000 up from $506,000
at the same time last year.
Additionally, Whangarei District
saw a record median price of
$610,000
15.1% increase to $450,000 up
from $391,000 at the same time
last year. Additionally, 3 Districts
within the Manawatu/Wanganui
region saw record median prices
– Tararua ($320,000), Manawatu
($535,000) and Whanganui
($375,000) • Taranaki with a 15.3% increase to
$451,000 up from $391,000 at
the same time last year
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• Southland with a 20.3% increase
to $373,000 up from $310,000
at the same time last year.
Bindi Norwell, Chief Executive at REINZ says: “For the last few weeks we’ve been hearing reports from around the country of vendors achieving good prices for the sale of their homes; but we would never have guessed that 8 regions and 17
