12 Apr 2016

Median house prices and sales up nationally

4:08 pm on 12 April 2016

The housing market has got a new burst of life ahead of winter with prices and sales pushing higher.

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Auckland city Photo: Wikicommons

Real Estate Institute New Zealand data showed seasonally adjusted median prices gained 5.1 percent nationally in March on the previous month and were 3.4 percent higher compared to a year earlier.

The national median house price gained 4 percent on a year ago to $495,000, and in Auckland it had pushed to a record $820,000.

Real Estate Institute of New Zealand chief executive Colleen Milne

Real Estate Institute of New Zealand chief executive Colleen Milne Photo: Supplied

REINZ chief executive Colleen Milne said talk of the Auckland market cooling had proved unfounded and its strength now was being felt in many parts of the country.

She said the housing market had shrugged off the impact of tighter lending and tax rules, and expected it to remain strong for the rest of the year.

The national number of sales in March was up more than 5 percent on February and on the same month a year ago.

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