PRICES UP ... BUT SO ARE LISTINGS
Median prices for residential property across the country. They increased 23.8% from $747,000 in November 2020 to $925,000 last year — a new record high. The median house price for New Zealand, excluding Auckland, increased annually by 26.0% from $615,000 to a new record of $775,000.
The median property price in Auckland increased 26.2% annually from $1,030,000 in November 2020 to $1,300,000 in November last year.
REINZ chief executive Jen Baird says the market has settled back into its stride — returning to business as near-usual across the board. November shows an active market where property prices continue to increase. There has been a firm property market, with all regions experiencing annual growth and 24 territorial authorities reaching new record medians.
“While the supply versus demand imbalance continues to push prices inventory levels increased 5.1% annually and listings increased 9% — providing buyers more choice and giving reluctant sellers confidence that if they take their property to market, they will be able to buy their next one,”
