In Masterton, 51 houses sold in October for a median price of $531,000, which was $121,000 more than the median price the same month last year. Maybe we need a department for first-home buyers, a Ministry for First-Home buyers. The average Auckland house value at the end of June was still $1.08 million . Prime Minister Jacinda Ardern last week said the median price "cannot keep increasing at the rate that it is". To complete your registration, please click the verification link sent to: If you do not receive an email within 15 minutes, please check your spam folder or contact us for help. Last year, the number of households renting was increasing twice as fast as those who own. We use the The Real Estate Institute of New Zealand (REINZ) housing statistics. The House Price Index (HPI) measures the movement in house prices throughout New Zealand, providing an indicator of capital growth. For sale by Owners, Developers, International Agents, Real Estate Agencies, Law Firms, Accountants, Portals, Contributing is easy and it works for you. Bed. Receive informed analyses and property offers from the world's residential markets directly to your inbox. That's because their house price figures are nominal, i.e., not adjusted for inflation. Photo / Doug Sherring. The data is compiled and published by CoreLogic. by Jenée Tibshraeny. Explore free estimated values, sales histories & council records of homes in your area. "It's never a coordinated approach - it's always throwing a few crumbs, usually for political purposes. Data shows in past decades they have sometimes tripled, but typically during times of high inflation. Enter your login email address and instructions for resetting your password will be sent. The Residential House Values Summary gives you the average house value in your area. "The solution is not to find little incremental changes such as the sort that's being recommended here. "We will get to a point eventually where that equation simply gets too great - where the difference between what you're earning and what house prices cost is too great and it will be impossible to buy... That will be the moderator that will finally fix the market. REINZ data shows the median house price doubled during the previous Labour Government's nine years in power - from 1999 to 2008 - to $349,000. Credits: Video - The AM Show; Image - Getty/The AM Show. Residential House Values Residential Sales Prices. Church said while REINZ is correct the thresholds are now too low, tinkering with HomeStart won't change a thing in the long run. In terms of property types, flats in New Zealand sold for an average of £139,101 and terraced houses for £273,140. Search. Price from: Price to: Min ... For around 100,000 you can buy a large three bedroom family house in New Zealand on a 600sqm plot of land in any one of the country's regional centres. Land Size. List your company on Global Property Guide. It found that nearly half of respondents thought house prices would rise over the next 12 months, a 54 point increase on the July quarter. 283,000. No login required Residential House Values. "If you're in Queenstown-Lakes, Porirua City or Wellington City, less than 10 percent of properties selling in the current market are below the local thresholds making it extremely difficult for first home buyers in these areas. The report noted the recent growth in house prices increased the risk of a sharp correction in the medium term, if the demand and supply imbalances were unwound. 1.7 million NZ properties on a beautiful map interface. Sign Up; Login; Address. The sale prices of … Do something to look after the people who are most vulnerable in home-buying society - first-home buyers.". "There are massive beneficial impacts on society in getting people into their own home," said Church. In South Wairarapa, 22 houses were sold in October for a median price of $710,444, a whopping $118,000 more than the same month last year, the Real Estate Institute of New Zealand’s latest report showed. ", Average Auckland house price passes $1m, all other regions see increases - Trade Me, 'Housing history': Median Auckland house price now at $1 million, Fears mortgagee sale floodgates could open as jobless Kiwis start selling homes, Government slammed as 'most anti-landlord in history' despite rising house prices, Housing costs to blame for inequality, report shows, 'A bad thing': Property prices doubling every 10 years increases inequality - expert, Copyright © 2020 MediaWorks TV - All Rights Reserved, By subscribing you agree to our Terms of Access and Privacy Policy, in past decades they have sometimes tripled. But occasionally, we use data generated by realtors. Sale Price. 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