As Auckland’s house prices fall, the rest of NZ’s rises

By Leith van Onselen

The REINZ has released its house price data for November, which revealed a 1.3% seasonally adjusted increase in the national median house price, with prices up 7.1% year-on-year:

Outside of Auckland, seasonally adjusted house prices rose by 0.1% in November, with prices up 7.9% year-on-year.

Looking at the major cities, Auckland’s seasonally adjusted median house price fell by 1.3% and was down by just 1.7% year-on-year. Christchurch’s (Canterbury) fell by 4.8% in November and was down 3.2% year-on-year. Whereas Wellington’s median house price fell 0.5% in November but was up 11.9% year-on-year:

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

Sales volumes are also rather flat, up just 0.2% year-on-year in seasonally adjusted terms across New Zealand, with individual markets mixed:

Sales volumes across Auckland are also trending sideways:

Finally, here are the sales by price point:

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

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Leith van Onselen

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