Auckland median price hits new record

It has released its latest statistics, showing there were 6608 dwelling sales in October. That was down 2.4% on 2013 but up 11.8% compared to September.

Eleven regions recorded an increase in sales volume compared to September with Otago recording the largest percentage increase of 28.8%, followed by Taranaki with 27.4% and Southland with 27.1%.  Compared to October 2013 six regions recorded a increase in sales volume with Southland recording the largest increase of 10.3%, followed by Taranaki with an increase of 7.5% and Waikato/Bay of Plenty with an increase of 6.5%.

The national median price for the month was $430,000, up 5.4% from October 2013. Auckland's median reached a new record of $640,500.

Auckland recorded the largest percentage increase in median price compared to October 2013, with a 10.1% increase, followed by Manawatu/Wanganui with an 10.0% increase and Canterbury/Westland with an 8.5% increase.  Compared to September 2014, Northland recorded the largest percentage increase in median price, up 13.9%, followed by Hawkes Bay with a 12.2% increase and Manawatu/Wanganui with a 7.5% increase.