Top Scoops

Book Reviews | Gordon Campbell | Scoop News | Wellington Scoop | Community Scoop | Search

 

House Price Increases Break New Yearly Records, Regions Most Affected

Housing markets across New Zealand have had their busiest January in four years, pushing REINZ's house price index to a record high.

Invercargill. Photo: Invercargill City Council

The Real Estate Institute's house price index - which measures the changing value of property in the market - rose 7 percent in the year to January to a record high of 2922.

The volume of sales in Auckland rose 9.7 percent on last year, while the rest of the country ticked up slightly by 0.9 percent.

"Normally January is a quiet time of the year, and for a few regions that was definitely the case, however, overall the country had a strong start to the year with the most residential properties sold for the month of January in four years," REINZ chief executive Bindi Norwell said.

"Much of the increase in sales volumes is being driven by increasing confidence in the housing market which has been underpinned by a relatively strong economy, good employment rates and the low interest rate environment."

The national median house price rose 11.8 percent to $615,000 from $550,000 the previous January.

"Looking around the country, 10 out of 16 regions saw annual increases in the number of properties sold, with particularly strong uplifts in sales volumes in most of the middle of the North Island and the top of the South Island," Norwell said.

Median prices in Southland were 28.7 percent up - to $359,000 - on the previous January, up 24.5 percent in Manawatū/Whanganui to $411,000, Hawke's Bay prices were up 22.2 percent in the year to $683,000, and Otago prices were up 19.9 percent to $570,000.

© Scoop Media

 
 
 
Top Scoops Headlines

 

Gordon Campbell: On Why The Supreme Court Is A Bigger Threat Than Trump To US Democracy

If you need a chilling reminder of how weirdly different the United States is to New Zealand…then abortion rights is the place to start. Last Friday, in a case called Hopkins vs Jegley , the 8th Circuit Court of Appeals upheld the right of the ... More>>


The Conversation: Rogue Poll Or Not, All The Signs Point To A Tectonic Shift In New Zealand Politics

Richard Shaw AAP(various)/NZ Greens (CC-BY-SA)/The Conversation Strong team. More jobs. Better economy. So say the National Party’s campaign hoardings. Only thing is, last Sunday’s Newshub-Reid Research poll – which had support for the Labour ... More>>

Dunne Speaks: It's Time For Matariki Day

The period of Matariki, the celebration of the Māori New Year, which began earlier this week, is being celebrated increasingly as an important national event. While many other countries have their own form of New Year celebrations, Matariki is uniquely ... More>>

Gordon Campbell: On Why We Shouldn’t Be Pushed Into Re-Opening Our Borders

I believe in yesterday as much as Paul McCartney, but it was bemusing to see the amount of media attention lavished last week on the pandemic-related musings by former government science adviser Sir Peter Gluckman, former Prime Minister Helen Clark ... More>>

The Coronavirus Republic: Three Million Infections And Rising

The United States is famed for doing things, not to scale, but off it. Size is the be-all and end-all, and the coronavirus is now doing its bit to assure that the country remains unrivalled in the charts of infection . In time, other unfortunates may well ... More>>

Binoy Kampmark: Altars Of Hypocrisy: George Floyd, Protest And Black Face

Be wary what you protest about. The modern moral constabulary are out, and they are assisted by their Silicon Valley friends in the Social Media club. Should you dare take a stand on anything, especially in a dramatic way, you will be found out ... More>>

Binoy Kampmark: Welcome Deaths: Coronavirus And The Open Plan Office

For anybody familiar with that gruesome manifestation of the modern work place, namely the open plan office, the advent of coronavirus might be something of a relief. The prospects for infection in such spaces is simply too great. You are at risk from ... More>>


Binoy Kampmark: Why Thinking Makes It So: Donald Trump’s Obamagate Fixation

The “gate” suffix has been wearing thin since the break-in scandal that gave it its birth. Since Watergate, virtually anything dubious and suggestive, and much more besides, is suffixed. Which brings us to the issue of President Donald Trump’s ... More>>