The REINZ has released its house price data for February, which revealed a 0.8% seasonally adjusted rise in the national median house price, with prices up just 5.5% year-on-year:
Outside of Auckland, seasonally adjusted house prices rose by 1.3% in February, with prices up 8.8% year-on-year.
Looking at the major cities, Auckland’s seasonally adjusted median house price rose by 2.9% but was down 0.7% year-on-year. Christchurch’s (Canterbury) rose by 2.8% in February and was up 1.3% year-on-year. Whereas Wellington’s median house price rose 3.2% in February and was up 16.2% year-on-year:
The trend for Auckland house prices has flatlined over the past two-years:
Sales volumes have fallen heavily, down 9.6% year-on-year in seasonally adjusted terms across New Zealand, with Auckland sales down 18.2%:
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.
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