20 Jan 2016

Regions' house prices pick up pace, while Auckland slows

12:46 pm on 20 January 2016

House prices in the regions are picking up pace, with record median figures.

A house for sale sign outside a home (stock shot).

Photo: 123RF

Real Estate Institute (REINZ) data shows the national median price was $465,000 for December, an increase of $15,000 or 3.3 percent on a year earlier.

In Auckland, December sales volumes fell from November as the new loan-to-value restrictions came into force.

But the median price in the region rose to $770,000 in December - $5000 more than the month before and $92,000 higher than December 2014.

Excluding the impact of the Auckland region, the national median price rose $28,000 to $379,000, compared to December 2014, to reach its fourth record high in a row.

New record median prices were also reached in Waikato/Bay of Plenty, Hawke's Bay, Wellington, Nelson/Marlborough and Otago.

In December, 7313 dwellings sold, up 3.5 percent on December 2014 but down 9.1 percent on November.

Nationally, 755 houses sold for more than $1 million in the year to December 2015 - a 20 percent annual increase.