While house prices are swinging region by region, last month's figures still show an overall rise.
The latest residential property figures from the Real Estate Institute show that:
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The national median sale price was $172,000 for November. That's higher than the $168,000 achieved in October and also in November 1998.
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Total sales rose from October to November (6,181 to 6,661), but were still well down on this time last year (7,381).
Institute president Max Oliver says New Zealanders are still being cautious with the degree of financial exposure they're prepared to adopt. However, he says the rise in median price from October and from November last year indicates that quality homes are still holding their value.
Total dwellings: comparing the median prices
| | November 1998 | October 1999 | November 1999 | | -------------------- | ------------- | ------------ | ------------- | | Northland | $145,000 | $139,000 | $142,000 | | Auckland | $227,000 | $232,000 | $238,050 | | Waikato/BOP/Gisborne | $155,000 | $157,000 | $165,000 | | Hawkes Bay | $123,000 | $127,000 | $127,000 | | Manawatu/Wanganui | $101,250 | $110,000 | $107,000 | | Taranaki | $97,500 | $91,500 | $102,250 | | Wellington | $168,000 | $178,000 | $175,000 | | Nelson/Marlborough | $132,500 | $150,000 | $145,000 | | Canterbury/Westland | $140,000 | $150,000 | $145,000 | | Otago | $89,000 | $100,000 | $95,000 | | Southland | $76,000 | $81,500 | $75,000 | | NZ total | $168,000 | $168,000 | $172,000 |
Source: Real Estate Institute of New Zealand Property Market Report
