Median house prices on the rise
A correction for Wellington house prices, stability for Auckland but a rise in the national median have shown through in March sale price statistics.
The Real Estate Institute said that the national median price for March was $175,000, compared with $171,000 in February and $168,000 in March 1999. The Institute has continued to plug investment in residential property, poking a stick at the recent sharemarket correction and welcoming Deputy Prime Minister Jim Anderton’s comments that interest rate rises should be avoided.
The March figures show:
Total dwellings: median price comparisons
|
Region |
March 1997 |
March 1998 |
March 1999 |
February 2000 |
March 2000 |
|
Northland |
$127,000 |
$140,000 |
$145,000 |
$131,000 |
$150,000 |
|
Auckland |
$235,000 |
$235,563 |
$240,000 |
$240,000 |
$240,000 |
|
Waikato/BOP/Gisborne |
$145,000 |
$145,000 |
$153,500 |
$156,000 |
$163,000 |
|
Hawkes Bay |
$120,500 |
$126,000 |
$127,000 |
$127,000 |
$121,750 |
|
Manawatu/Wanganui |
$105,000 |
$100,000 |
$96,000 |
$112,000 |
$106,500 |
|
Taranaki |
$95,000 |
$100,000 |
$99,500 |
$112,500 |
$112,500 |
|
Wellington |
$155,000 |
$165,000 |
$170,000 |
$184,000 |
$179,000 |
|
Nelson/Marlborough |
$135,000 |
$147,750 |
$142,000 |
$145,750 |
$150,000 |
|
Canterbury/Westland |
$135,000 |
$145,000 |
$140,000 |
$141,250 |
$150,000 |
|
Otago |
$101,000 |
$92,000 |
$100,000 |
$96,000 |
$100,000 |
|
Southland |
$78,000 |
$70,000 |
$72,500 |
$82,750 |
$78,000 |
|
New Zealand |
$164,000 |
$165,000 |
$168,000 |
$171,000 |
$175,000 |
Data from the Real Estate Institute of New Zealand