NZ house prices rise as volumes crash

By Leith van Onselen

The REINZ has released its house price data for April, which revealed a 1.9% seasonally adjusted rise in the national median house price, with prices up just 6.3% year-on-year:

Outside of Auckland, seasonally adjusted house prices rose by 1.4% in April, with prices up 7.5% year-on-year.

Looking at the major cities, Auckland’s seasonally adjusted median house price rose by 2.0% but was down 0.6% year-on-year. Christchurch’s (Canterbury) rose by 1.3% in April and was up 4.6% year-on-year. Whereas Wellington’s median house price rose 0.6% in April and was up 8.8% year-on-year:

Sales volumes have fallen heavily, down 15.2% year-on-year in seasonally adjusted terms across New Zealand, with Auckland sales down 19.2%:

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.

Mixed market.

[email protected]

Unconventional Economist
Latest posts by Unconventional Economist (see all)

Comments are hidden for Membership Subscribers only.