The REINZ has released its house price data for January, which revealed a 2.9% seasonally adjusted rise in the national median house price, with prices up just 5.2% year-on-year:
Outside of Auckland, seasonally adjusted house prices rose by 2.3% in December, with prices up 9.7% year-on-year.
Looking at the major cities, Auckland’s seasonally adjusted median house price fell by 2.4% and was down 2.4% year-on-year. Christchurch’s (Canterbury) fell by 1.7% in January and was down 1.4% year-on-year. Whereas Wellington’s median house price rose 0.9% in January but was up 11.6% year-on-year:
The trend for Auckland house prices have fallen over the past two-years:
Sales volumes have also fallen, down 1.6% year-on-year in seasonally adjusted terms across New Zealand, with Auckland sales down 2.7%:
Finally, here are the sales by price point:
As you can see, sales are lower across the highest and lowest price points, but have risen across the middle.