The latest data from Real Estate Institute of New Zealand (REINZ) reveals new house price records have been hit and there is still a rapid fall in properties available for sale.
2. Northland ($376,000)
3. Waikato/Bay of Plenty ($450,000) - its sixth record median sale price in a row:
4. Manawatu/Wanganui ($265,000)
“Prices continue to rise in many regions, showing that demand is still firm,” REINZ spokesperson Bryan Thomson says.
“Sales volumes remain below previous periods, as the continued shortage of supply impacts buyers, who are struggling to find properties to buy. We will watch market reaction with interest as the expected increase in listing numbers during the spring and summer selling period become available and the market assesses the impact of the recently announced LVR rule changes, the approval or otherwise of the Auckland Unitary Plan and possible interest rate cut."