What's happening with house prices across the regions
Landlords.co.nz looks at what is happening with house prices across the regions in New Zealand.
Tuesday, January 18th 2011, 12:00AM
by The Landlord
[Download house statistics file here]
House sales volumes were down across all regions in December and the median price also fell in all but three main regions, according to the Real Estate Institute.
In Auckland, after rising to $477,000 in November the district median price fell last month to $455,000, nearly 3.2% and $15,000 down on the median price for December 2009.
December's sales of 1,428 are down on the 1,789 in November and the 1,646 in December the previous year.
Across the Auckland suburbs the median sale price for a North Shore City home leveled out at $550,000 for a second month, and is up on the median of $526,500 in December 2009.
The number of sales fell from 335 in November and 320 in December 2009 to 297 last month.
Waitakere saw sales ease to 182 in December from 216 in November, but still remain higher than the 165 sales in December 2009. The median price declined from $380,000 in November to $365,000 last month, $20,000 below the December 2009 median.
The median price for an Auckland City house decreased from $543,500 in November to $500,000 in December and is also down on the December 2009 median of $520,500.
At 456, sales were down on the 702 in November and the 622 in December 2009.
In Manukau City the median residential property price increased to $455,000 in December from $445,00 in November, but it is still a decrease on the median of $457,000 in December 2009.
However, the number of sales remained steady at 295 for a second month, just two down from the December 2009 median of 297.
The Papakura district median price fell from $371,250 in November to $300,000 and is also down on the December 2009 median of $337,000. The 37 sales in Papakura in December was up on the 26 sold on November but down on the 43 in December 2009.
After three months of increases the median price for Metropolitian Auckland homes fell from $490,000 in November to $465,000 last month which is also a reduction on the median price of $480,000 in December last year.
Sales of 1,267 are down on the 1,574 in November and the 1,447 in December 2009.
Sales in the Rodney district fell from 129 in November to 89 last month, and are also down on the 101 sold on December 2009. From $451,000 in November the median price weakened to $432,000 and is also below the December 2009 median of $465,000.
The median price for a Franklin District home eased from $398,500 in November to $393,000 in December but is up on the median of $344,500 in December 2009. But with 40 houses sold in December, sales were the same as November but down on the 62 sold in December 2009.
In Thames/Coromandel monthly dwelling sales decreased to 32 from 46 in November, and are also below the 36 sold in December 2009. The median price strengthened from $325,000 in November to $340,000 last month but is less than the December 2009 median of $353,200.
After staying steady at $420,000 for a two months the median price for an Outer Auckland home eased back to $410,000 last month but is up on the median of $405,000 in December 2009. Sales volume also decreased from 215 in November to 161 last month (December 2009: 199).
In the capital after firming to $400,000 in November there was no change in the median residential property price last month, and it matches the median in December 2009. Sales for December decreased from 670 in November to 586 but are up on the 548 sold in December 2009.
In the Wairarapa, the median price fell back from $258,000 in November to $222,500 last month, and is also well down on the $260,000 median in December 2009. At 46 the number of houses sold is down on the 55 sales in November and the 55 sold in December 2009.
The median price for Upper Hutt residential properties dropped from $360,000 in November to $310,000 in December, but is up on the median of $305,000 for the same month in 2009. Sales of 75 residential properties were recorded last month, up on the 60 sold in November 2010 and the 43 in December 2009.
The Hutt Valley median recovered last month to $372,000 from $348,750 in November and $353,500 in October, and is up on the December 2009 median of $362,000. In December sales totalled 111, down on the 118 sold in November but more than the 87 sales in December 2009.
For a house in Otaki/Paekakariki the median price remained steady at $350,000 for a second month and is an increase on the median of $335,000 in December 2009. The number of sales fell to 66 from 101 in November and 81 in December 2009.
From $395,750 in November, the median price in Pukerua Bay/Tawa rose to $410,000, and is also up on the December 2009 median of $371,000. At 63 last month, sales were down on the 76 in November but an increase on the 52 in December 2009.
The Central Wellington median price decreased from $522,500 in November to $459,500 last month, and is also down on the December 2009 median of $484,000. The number of sales at 44 in December is down on the 50 residential properties sold in November and the 52 in December 2009.
In Northland the median price continued falling, from $315,000 in October and $310,000 in November to $296,000 in December, almost 3.3% down on the December 2009 median of $306,000. After rising to 108 in November the number of Northland residential property sales fell last month to 95, which is also fewer than the 113 sold in December 2009.
In Whangarei County, the median price decreased from $397,500 in November to $281,000 last month, significantly below the December 2009 median of $425,000. And sales eased back from 18 residential properties in November to 13 last month, but are up on the 10 in December 2009.
Sales in Whangarei City stayed steady at 51, the same as in November 2010 and in December 2009. But the median price fell from $290,000 in November to $277,500 last month, and is also down on the December 2009 median of $280,000.
From $319,400 in November, the Waikato/Bay of Plenty/Gisborne district median price declined to $315,000 last month and is also below the December 2009 median of $320,000. Altogether 620 houses were sold in the district, down on the 662 in November and also fewer than the 715 sold in December 2009.
In Waikato Country the number of houses sold is down to 83 from 92 in November, and 120 in December 2009. From $282,250 in November and $284,000 in October the median price slid back to $275,000 last month, a decrease on the December 2009 median of $283,000.
The median price for a Hamilton City house rose from $324,000 in November to $326,750 last month but is still down on the December 2009 median figure of $350,000. Sales volume increased to 177 from 165 residential properties in November, but is down on the 197 sold in December 2009.
In Western Bay of Plenty Country the median price fell to $367,500 in December from $405,000 in November but is up on the median of $365,000 in December 2009. Sales volumes eased back to 46 last month from 50 in November and 53 in December 2009.
The median price for a house in Mt Maunganui/Papamoa rose to $410,000 in December from $395,000 in November but is down on the December 2009 median of $440,000. At 49, sales were down on the 75 in November and the 59 in December 2009.
In Tauranga the median price increased from $328,150 in November to $379,500 last month and is also up on the December 2009 median value of $337,500. Sales of residential properties decreased from 98 in November to 84 last month, down on the December 2009 figure of 95.
From $265,000 in November Rotorua's median price weakened to $220,000 in December, but is still up on the $215,100 median in December 2009. Sales of 55 properties are down on the 59 sold in November, and the 63 in December 2009.
In Taupo the median price slipped from $316,000 in November to $315,000 last month and is also down on the December 2009 median of $346,500. There were 38 sales in December up on the 34 in November and the 30 sales in December 2009.
At $130,000 the median price for King Country residential properties is a further decline on $131,000 in November but an increase on the December 2009 median of $109,500. Sales also decreased from 12 in November to 9 in the last month, 1 more than the 8 in December 2009.
The median price for a Gisborne City home fell from $263,000 in November to $223,000 last month, also a decrease on the December 2009 median of $252,500. At 33, the number of sales is down on the 39 in November and the 48 in December 2009.
From $271,000 in November the Eastern Bay of Plenty Country median price eased up to $275,000 in December but is down on the December 2009 median of $295,000. There were 43 houses sold compared to 38 in November 2010 and 39 in December 2009.
In the Hawke's Bay district the median price increased from $269,000 in November to $285,000 last month, but is still 1.7% down on the December 2009 median of $290,000. The number of dwellings sold decreased from 175 in November to 169 last month, which is also below the 182 in December 2009.
From a drop to $288,500 in November, the Napier City median price recovered to $315,088 last month and is up on the December 2009 median of $313,750. Sales totalled 78 houses, up on the 68 sold in November, and the 76 sold in December 2009.
In Hastings City the December median price is $290,000, up on the $275,000 recorded in November but down on $306,500 in December 2009. Sales fell to 55 in December from 73 in November, also a decrease on December 2009 sales of 65.
From $360,000 in November the Hawkes Bay Country median price weakened to $243,750 last month, and is also down on $366,000 in December 2009. There were 12 sales, compared to 10 in November 2010 and December 2009.
Across the Manawatu/Wanganui district the median price declined from $232,500 in November to $220,000 last month, and is 4.3% down on the median of $230,000 in December 2009. Sales at 177 are down on the 232 sold in November and the 204 sold in December 2009.
At $258,500 the median sale price for residential properties in Palmerston North City is down on November's $275,500 and the $264,000 recorded in December 2009. Sales of 72 were down on the 109 recorded in November and the 92 houses sold in December 2009.
In the Manawatu region the median price declined from $248,000 in November to $221,250 last month, is also down on the December 2009 median of $237,000. At 134, the number of sales is down on the 179 sold in November and on the 150 sold in December 2009.
From $189,500 in November the median price in Wanganui City fell to $175,000 in December, and is also down on the December 2009 median of $206,500. There were 29 residential properties sold in December, down on the 36 sales in November and 32 in December 2009.
The median sale price in the Wanganui region rose from $185,000 in November to $197,000 last month, but is down on the December 2009 median of $207,000. At 43, sales were down on the 53 houses sold in November and the 54 in December 2009.
The Taranaki district median residential property price recovered from $265,000 in November to $268,000 in December but is still 4.3% down on the $280,000 median in December 2009. Across the district 104 houses were sold, down on the 145 in November and 141 in December 2009.
In the Taranaki Country area the median price strengthened from $190,000 in November to $232,500 last month, slightly up in the December 2009 median of $232,000. Sales totalled 16 last month, less than the 23 in November and the 25 in December 2009.
From $290,000 in November the median sale price for a New Plymouth City residential property increased to $325,000 in December, but is down on the median of $335,000 in December 2009. At 52 the number of sales was down on the 69 sold in both November and December 2009.
Across the Nelson/Marlborough district the median price eased back to $327,000 in December from $330,000 in November, and is down 4.8% on the December 2009 median of $343,500. Residential property sales also decreased last month from 213 in November to 159 last month and the 195 sales in December 2009.
In Nelson City the median price eased from $340,000 in November to $329,500 last month, a decrease on the December 2009 median of $355,000. Sales volume also decreased to 64 in December from 91 in November, and 81 in December 2009.
In Marlborough the median price weakened from $300,000 in November to $288,000 last month but is still above the December 2009 median of $285,000. At 59, sales were down on the 77 in November and 67 in December 2009.
From $315,000 in October and $307,000 in November the Canterbury/Westland district median price eased back further to $305,000 last month and is nearly 4.7% below the December 2009 median of $320,000. At 637, sales are down on the 684 in November and the 754 in December 2009.
After falling from $338,000 to $325,000 in November the median price in Christchurch City firmed to $330,500 last month but is still below the December 2009 median of $347,250. The number of sales decreased from 439 in November to 426 in December, and is also down on the December 2009 median of 506.
The median price for a home in Rangiora rose from $320,000 in November to $327,500 last month and is also an increase on the December 2009 median of $276,000. But sales volume decreased from 39 properties to 24 last month (December 2009: 35).
From $384,000 in November, the median price for a Canterbury Country home decreased to $357,500 last month, which is also below the December 2009 median of $380,600. Sales at 30 were down on the 46 properties sold in November and the 33 in December 2009.
The median price of houses sold in Mid-Canterbury increased from $212,500 in November to $213,500 last month, but is down on the median of $246,500 in December 2009. The number of transactions decreased to 18 from 34 in November 2010 and December 2009.
The median price in Timaru eased up from $207,500 in November to $215,000 last month, but is below the median of $218,000 in December 2009. At 47, sales were up on the 42 properties sold in November 2010 and in December 2009.
The median price for a house on the West Coast declined last month to $196,000 from $201,000 in November, and is also down on the December 2009 median of $202,500. Sales were up slightly to 37 from 36 in November and the same as in December 2009.
Across the Central Otago Lakes district the median price weakened from $421,000 in November to $400,000 last month, and is 7.5% down on the median of $432,500 in December 2009. Sales at 67 in December are down on the 75 in November and the 95 in December 2009.
From $480,000 in November the Queenstown median price dropped to $429,000 last month, and also below the December 2009 median of $481,000. Sales volumes stayed static at 40 for November and December, just two down on the December 2009 median.
From $230,000 in November the Otago district median price strengthened to $235,000 and is nearly 2.2 per cent up on the December 2009 median of $230,000. Across the region 231 dwellings sold last month, down on the 260 sales in November but the same as the median in December 2009.
The median price in Dunedin City eased up to $249,500 in December from $236,000 in November, an increase on the December 2009 median of $243,000. At 179, sales were down on the November total of 204 and the December 2009 figure of 185.
In Southland the median price decreased from $189,000 in November to $184,000 last month, but was the same as the December 2009 median. Sales volumes also eased back slightly from 125 in November to 124 last month, and are down on the 133 properties sold in December 2009.
In Invercargill the median price fell to $180,000 in December from $195,000 in November and is a decrease on the December 2009 median of $189,025. At 81, sales were down slightly on the 84 sold in November 2010 and the 86 in December 2009.
The median price for a house in Gore increased to $183,000 last month from $165,000 in November and is up on the median of $141,000 in December a year ago. Total sales also rose to 19 in December from 16 the previous month (December 2009: 29).
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