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

 

Statistics: Dairy And Travel Still Our Largest Export Earners

New Zealand earned $2.3 billion more from exports than we spent on imports during the year ended June 2015... total exports of goods and services were $67.5 billion, while total imports were $65.1 billion. More>>

ALSO:

Approval: Air New Zealand And Air China Launch New Alliance Route

Air New Zealand and Air China have today launched joint sales for a new daily direct service between Auckland and Beijing after receiving approval from New Zealand Minister of Transport Hon Simon Bridges to form a strategic alliance. More>>

ALSO:

Money Trading: FX Trader Jin Yuan Finance Warned Over Lack Of Monitoring

Jin Yuan Finance, an Auckland-based foreign exchange trader, has been warned over its lack of anti-money laundering processes in place in the first public notification by the Department of Internal Affairs. More>>

ALSO:

Auckland Surge, Possible Peak: House Values Accelerate At Fastest Annual Pace In 8 Years

New Zealand residential property values rose at their fastest annual pace in eight years in August, pushed higher by overflowing demand in Auckland, which is showing signs speculators think it has reached its peak, according to Quotable Value. More>>

ALSO:

Cash Money: Reserve Bank Launches New $5 And $10 Banknotes

The $5 and $10 final banknotes were revealed at an event at the Bank in Wellington, and will start to be released from mid-October 2015. More>>

ALSO:

Truck Sales Booted: Commerce Commission Files Charges Against Mobile Trader

The Commerce Commission has filed charges against a mobile trader, or truck shop operator, claiming he obtained money from customers by deception and never intended to supply them with the goods they paid for. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news