Sales up but market still subdued: REINZ

The national median house price increased by $9000 from $361,000 in July to $370,000 in August, an increase of 2.5%. 

Auckland’s median house price moved up 1.1 per cent, from the $500,000 level it has stayed steady on for three months, to reach a new record median price of $505,500.  The national median house price is up 4.2% compared to August last year. 

Every region reported an increase in the number of sales in August on the year before. Northland led the way with a 31% increase, followed by Auckland with 25.6% and Taranaki with 22.2%.  Seven regions recorded increases in sales in August compared to July, with Central Otago Lakes recording a 25.0% increase, Southland an 11.2% increase and Nelson/Marlborough an 8.9% increase.  Taranaki recorded a 14.0% fall in sales in August compared to July, with Manawatu/Wanganui recording an 8.2% fall and Wellington a 2.8% fall in sales. 

In terms of prices, Nelson/Marlborough recorded the highest lift in prices for August on the month before with an increase of 9.6%, followed by Taranaki with 7.3%, and Southland with 5.9%.