New Zealand’s average house price was $400,000 in September, an increase of $10,000 compared with last month and up $20,000 from September 2012.
The number of properties sold was up, with 6,720 sales in September compared to 6,548 in August, according to the REINZ.
September house sales were up 19% compared with the same month last year.
REINZ director, Helen O’Sullivan said “Real estate sales volumes have been strong in the lead up to the introduction of LVR restrictions by the Reserve Bank, with sales up over 19% compared to September last year.”
House prices have increased from 12 months ago, when New Zealand’s median house price was $371,000.
The number of properties sold was up with sales of 5,653 in September 2012 compared to 6,720 in September 2013.
The average number of days to sell a house was 31, a decrease on the 33 days needed in September 2012.
On an annual basis, eight of the country’s twelve regions saw a rise in prices and four saw a fall.
Annual New Zealand House Price Changes
Region Median Price September 2013 Change since September 2012
Northland $299,000 up 4.6 %
Auckland Region $570,000 up 11 %
Waikato / Bay of Plenty / Gisborne $325,000 up 4.7 %
Hawkes Bay $269,000 up 2.2 %
Manawatu / Wanganui $227,000 up 0.1 %
Taranaki $285,000 up 6.3 %
Wellington Region $390,000 down 2.5 %
Nelson / Marlborough $342,000 down 3.1 %
Canterbury / Westland $375,000 up 13.6 %
Central Otago Lakes $419,000 down 4.8 %
Otago $245,000 up 4.3 %
Southland $190,000 down 5.3 %
New Zealand $400,000 up 7.8 %
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