REINZ data shows the housing market remained steady in November with sales volumes up slightly compared to a year ago

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The Real Estate Institute of New Zealand’s national median price for residential property hit a new record high in November, but Auckland’s median was down compared to November last year.

The national median price was $575,000 in November, up from October’s record of $562,000 and up 6.5% compared to November last year when it was $540,000.

However in the country’s largest real estate market, Auckland, November’s median of $867,000 was up slightly compared to October’s $864,500, but down 1.5% compared to November last year.

The figures show that median prices are continuing to rise around much of the country, but have remained largely flat in Auckland since dropping back slightly from the record high of $900,000 set in March last year.

Six regions achieved record high median prices in November – Northland where the median was up 21.2% compared to November last year; Waikato +8%, Hawke’s Bay +11.9%, Wellington +11.5%, Tasman +19.2% and Southland +3.8% (see the interactive charts below for the full regional prices).

The volume of properties sold was also slightly up compared to last year, with 7286 residential sales in November, up 2.6% compared to November last year.

In Auckland there was an even bigger increase in sales, with 2039 residential sales in November, up 3.9% compared to November last year.

For the rest of the country excluding Auckland, sales volumes were up 2.1% compared to a year ago (see the interactive charts below for the regional sales volumes trends).

Overall the figures suggest the market was reasonably steady in early summer trading, with sales volumes running slightly ahead of where they were at the same time last year, and prices either rising or flattening out across the country.

Median price – REINZ

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NZ total
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Volumes sold – REINZ

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NZ total
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Waikato
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Bay of Plenty
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Gisborne
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Manawatu
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Taranaki
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Wellington
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Tasman
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Nelson
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Marlborough
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West Coast
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Canterbury
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Otago
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Southland
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