House sales have picked up slightly from their record lows, but the national median sales price has stuck at the same level for the past three months.
August figures from the Real Estate Institute of New Zealand show:
- The national median sales price for residential real estate is still $170,000. That's the same as July and June and a mere $1,000 above the median price for August 1999.
- The number of sales for the month, at 5,489, was higher than July's 5,168 but still well down on last August's 6,243 sales.
- Median prices improved month-on-month in eight of the eleven regions measured. Prices eased in Nelson/Marlborough, Taranaki and Manawatu/Wanganui.
REINZ National President Rex Hadley said that easing mortgage rates and the traditional spring increase in house-hunting had combined to stimulate the residential market.
"But, given the continued lack of faith in the economy, there was never any expectation that the sales volume would return to the level of last August".
Total dwellings: median price comparisons
Figures supplied by the REINZ. All figures in New Zealand dollars.
| | AUG96 | AUG97 | AUG98 | AUG99 | JULY00 | AUG00 | | ------------------------ | ------------ | ------------ | ------------ | ------------ | ------------ | ------------ | | Northland | 112,000 | 135,000 | 155,000 | 140,500 | 130,000 | 137,500 | | Auckland | 220,000 | 233,000 | 225,000 | 230,000 | 231,000 | 235,000 | | Waikato/BOP/Gisborne | 135,000 | 150,000 | 148,000 | 155,000 | 155,000 | 155,500 | | Hawkes Bay | 122,000 | 119,500 | 115,000 | 115,250 | 116,000 | 135,000 | | Manawatu/Wanganui | 106,500 | 95,000 | 95,750 | 101,500 | 110,000 | 95,000 | | Taranaki | 105,000 | 95,500 | 92,550 | 93,500 | 96,000 | 93,000 | | Wellington | 134,250 | 152,000 | 160,000 | 170,000 | 183,000 | 188,500 | | Nelson/Marlborough | 130,000 | 143,500 | 131,000 | 141,500 | 147,000 | 136,875 | | Canterbury/Westland | 130,000 | 144,000 | 140,000 | 145,000 | 140,000 | 143,000 | | Otago | 97,775 | 87,000 | 92,000 | 104,500 | 94,500 | 99,500 | | Southland | 85,000 | 83,000 | 75,000 | 77,750 | 72,500 | 73,000 | | New Zealand total | $147,000 | $165,000 | $164,000 | $169,000 | $170,000 | $170,000 |
Total dwellings: number of sales
Figures supplied by the REINZ
| | AUG96 | AUG97 | AUG98 | AUG99 | JULY00 | AUG00 | Value of sales____AUG 2000 | | ------------------------ | --------- | --------- | --------- | --------- | ---------- | --------- | ------------------------------ | | Northland | 187 | 214 | 134 | 136 | 132 | 148 | $23,823,750 | | Auckland | 2,045 | 2,212 | 1,964 | 2,188 | 1,711 | 1,797 | $498,571,620 | | Waikato/BOP/Gisborne | 1,045 | 1,178 | 802 | 904 | 717 | 763 | $126,894,552 | | Hawkes Bay | 208 | 239 | 215 | 242 | 160 | 202 | $28,768,747 | | Manawatu/Wanganui | 290 | 299 | 278 | 334 | 329 | 284 | $30,143,711 | | Taranaki | 163 | 138 | 147 | 170 | 134 | 142 | $15,573,328 | | Wellington | 788 | 800 | 767 | 917 | 791 | 803 | $169,182,045 | | Nelson/Marlborough | 212 | 214 | 182 | 222 | 174 | 202 | $31,941,672 | | Canterbury/Westland | 1,117 | 1,000 | 825 | 683 | 651 | 704 | $112,990,871 | | Otago | 277 | 236 | 230 | 260 | 236 | 249 | $30,099,454 | | Southland | 169 | 150 | 137 | 187 | 133 | 195 | $20,666,750 | | NZ Total | 6,501 | 6,680 | 5,681 | 6,243 | 5,168 | 5,489 | $1,088,656,500 |
