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

 

Crown Accounts: Government Ekes Out Six-Month Surplus Of $9M

The New Zealand government eked out a tiny surplus in the first six months of the fiscal year as growth in domestic consumption lifted the goods and services tax take, while uncertainties over the Kaikoura earthquake costs meant expenses were less than expected. More>>

ALSO:

Almost 400 Jobs: Shock At Cadbury's Dunedin Factory Closure

Workers at Cadbury in Dunedin are reeling after learning this morning that the iconic Cadbury factory is to close, with the loss of almost 400 jobs... “The company had reported it was doing well and this has come out of the blue,” says Chas. More>>

ALSO:

Transport: Boards Of Inquiry For Auckland Roading Projects

Boards of Inquiry have been appointed to decide on two significant Auckland roading projects in a move which will get a decision by the end of the year, Environment Minister Dr Nick Smith and Conservation Minister Maggie Barry announced today. More>>

ALSO:

Three Months On: Quake Reciovery In Kaikōura And Elsewhere

Three months after the magnitude 7.8 earthquake on 14 November, encouraging recovery progress is being made in affected communities. More>>

ALSO:

Jetstar, Qantas For Govt Transport: Government Still In Talks With Air NZ

The government is still negotiating with national carrier Air New Zealand in a cross-agency air travel contract that will add a number of new airlines to the list of approved flyers. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news