Auckland house prices continue to flatline

By Leith van Onselen

The REINZ has released its house price data for August, which revealed a 0.4% seasonally adjusted decline in the national median house price, with prices up 3.9% year-on-year:

Outside of Auckland, seasonally adjusted house prices rose by 0.3% in August, with prices up 6.2% year-on-year.

Looking at the major cities, Auckland’s seasonally adjusted median house price rose by 1.4% and was up by 1.2% year-on-year. Christchurch’s (Canterbury) fell by 0.4% in August and was down 0.1% year-on-year. Whereas Wellington’s median house price rose 3.8% in August and was up 17.0% year-on-year:

That said, the trend for Auckland house prices has been rather flat, with little movement over the past two-years:

Sales volumes have rebounded, up by 1.2% year-on-year in seasonally adjusted terms across New Zealand, with individual markets mixed:

Finally, here are the sales by price point:

As you can see, sales are up across all price points with the exception of properties valued under $500,000.

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Leith van Onselen

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