Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


NZ median house price sets new record as spring sales roar

NZ median house price sets new record $380,000 as spring sales roar

Nov. 9 (BusinessDesk) – The median house price in New Zealand rose to a record $380,000 last month as sales jumped by almost a third compared to October 2011, according to the Real Estate Institute.

Sales rose 32.6 percent to 6,640 in October from a year earlier and were 17.5 percent higher than in September this year, the institute said in its monthly report. The median house price rose from $371,000 in September.

The REINZ Stratified House Price Index, which adjusts for the proportion of higher or lower-value homes sold, climbed 6.9 percent from October last year to a record high index level of 3,495.1. Auckland’s median house price also set a new record, rising 2.9 percent to $530,000.

All regions recorded an increase in sales volumes from the same month last year, with the biggest gains coming for Central Otago Lakes jumping 54 percent, Northland up 52 percent and Hawkes Bay up 47.7 percent.

The national median days to sell improved to 32 days from 35 days a year ago. In Canterbury/Westland days to sell fell to 28, the second lowest since April 2007.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Auckland Outage: Power Mostly Restored Overnight

Vector wishes to advise that all but 324 customers have been restored overnight. These customers are spread throughout the network in small pockets. The main St Johns feeder was restored around midnight allowing most of the customers in all affected areas to have power this morning. More>>

ALSO:

Half Empty: Dairy Prices Drop To Lowest Since August 2009

Dairy product prices fell to the lowest level in more than five years in the latest GlobalDairyTrade auction, led by declines in butter milk powder and whole milk powder. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news