Today, REINZ is releasing its Monthly Property Report and HPI Monthly Data which provides a market leading level of detail and understanding of housing activity in New Zealand. The Monthly Property Report has shown that the number of properties sold in April 2018 across New Zealand increased by 6.6% compared to the same time last year, the highest year-on-year increase the real estate industry has seen in 23 months.
In April, 6,368 houses were sold across the country in comparison to 5,973 in April 2017. However, the number of properties sold in New Zealand excluding Auckland increased by 8.4% year-on-year (from 4,163 in April 2017 to 4,514 in April 2018) due to the sales increase in the Auckland market being a more moderate 2.4% increase (from 1,810 sales in April 2017 to 1,854 house sales in April 2018).
The median house price for New Zealand rose 1.9% in April 2018 to $550,000 up from $540,000 in April 2017 and median prices for New Zealand excluding Auckland increased by 5.7% year-on-year to $460,000 – the exact same figure as the previous month. Median prices for Auckland decreased marginally by 0.6% to $850,000 (down from $855,000 in April 2017). The REINZ HPI which factors in changes within the property mix (e.g. price bands and house size), saw an increase of 0.9% year-on-year for Auckland, showing that prices are holding up in the region.
The full data sets are available by clicking the links below. These reports are live on our public website or within the Statistics Portal on the members’ website.