The REINZ have released residential property statistics for November which recorded a new record national median house price of $630,000, with 10 of the regions also recording record highs in their median prices.
Median house prices across New Zealand have increased by 8.6% over the past 12 months to $630,000, up from $580,000 in November 2018.
The Wellington region was one of the 10 regions to register a record median price, recording a 12.1% increase to $695,000. This compares to a median price of $885,000 in the Auckland region, which was the Auckland region’s highest price for 32 months.
Within the Wellington region, the median price in Wellington city was $800,000 (+5.3% on same time last year), Porirua $720,000 (+10.8%), Lower Hutt $647,000 (+11.6%), Kapiti Coast $635,500 (+16.6%) and Upper Hutt $605,000 (+12.0%).
