Sales prices
Updated: 3 September 2010
National house price growth trends moderate
According to the Real Estate Institute of New Zealand (REINZ), the median house price in New Zealand as a whole increased by 2.6 percent from $340,000 in July 2009 to $349,000 in July 2010, after a 3.7 percent increase in the year to May 2010 and a 3.7 percent increase in the year to June 2010.
In Auckland, the median house price grew by 2.3 percent in the year to July 2010 to $450,000; following on from an increase of 1.1 percent in the year to May 2010, and 2.3 percent in the year to June 2010.
Figure 11: Median sale price of residential property (to July 2010)
Source: Real Estate Institute of New Zealand
The value of New Zealand’s total housing stock1 peaked at $616 billion in the March 2008 quarter, and then fell to $568 billion in the December 2008 quarter. The value of the housing stock was $607 billion in the March 2010 quarter (the latest data available), a 6.9 percent increase from the March 2009 quarter.