Housing market buzzing but not quite on fire
The latest figures from the Real Estate Institute of New Zealand (REINZ) show whichever way you measure it, national house prices are at a record and sales volumes for a June month are at their highest since 2007.
As well, the length of time it took to sell a house fell slightly in June and remains below the long-term average.
The REINZ data shows its house price index, which smoothes out more expensive or cheaper houses being sold in any one month, rose to a record in June, up 0.3% from May, and up 5.3% from June last year.
REINZ's national median house price rose to a record $372,000 in June compared with $369,000 in May and $360,000 in June last year.
Nationally, there were 6,135 houses sold in June compared with 7,175 in May – the institute says, eliminating seasonaly factors, that's about steady – and up 17.3% on the 5,229 houses sold in June last year. That's the most houses sold in the month of June since 2007 when 7,474 were sold.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
