New Zealand Median House Prices – What You Need to Know

New Zealand Median House Prices – What You Need to Know

Investing in real estate is no laughing matter. Considering the amount of money that is spent in buying either residential or commercial property, it bodes well for people to look at real estate trends, probably from both city- and country-centric manners. Of course, looking at both the short and long-term trends is also a wise move, and nothing can be better than a Takapuna real estate agent helping you with this, as you make your choice. In particular, if you are looking for a home in New Zealand itself (better still, in the Auckland area), there are clear trends that point to why this might be a good investment for the future, let alone for the safety and comfort of your family.

New Zealand Median House Prices:
Now that we’ve established the fact that analysis (and an excellent Takapuna real estate agent) is the key to finding a property to suit your specific needs, we should look at which statistic is most revealing when it comes to real estate trends.

This brings us to median house prices, which not only gives us the price of properties in any given area but also points to how a given area has been performing—over months, years, or even decades.
Given that we’re talking about the real estate market in New Zealand, it must be pointed out that median house prices vary drastically, depending on whether Auckland is included in the nationwide statistics.
Just to illustrate how big an impact Auckland has had on New Zealand’s median house prices, the national median house price has increased by 37% (or $121,500) over the last six years, between December 2008 and 2014.
Yet this excellent performance is greatly reduced when Auckland’s performance (which amounts to just 17.5% or $50,000 for the same period) is taken out of the picture.

All these promising figures have occurred in spite of poor performances in both the Southland and Northland areas of New Zealand. So, what should this tell you? Probably the most promising place to make real estate investments in New Zealand over the last 6 years has definitely been in and around the Auckland area—of which Takapuna is a part, if you’re thinking of investing in a home there.

Auckland Median House Prices:
As mentioned earlier, the stats involving the median house prices have skyrocketed when it comes to the Auckland area, even if it hasn’t been the same in other parts of New Zealand.
To give you a picture of how well Auckland has performed in terms of median house pricing, an increase of 54% (or $238,000) has been observed over the last 6 years. If that’s not enough, the figures for the 2014 calendar year are far more revealing, with the Auckland median price increasing by 13% (to $678,000), while the average median price in other parts of New Zealand rose by a mere 1%.
Finally, if one would like to know which areas in particular registered the most growth, these included Manukau, Waitakere, Papakura, Onewa district, and the southern suburbs of Central Auckland. It was only the Gulf islands (such as Waiheke) that registered only a single-digit increase in value.

Read more: www.sherelle.co.nz
By Sherelle Benson

ENDS

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