PRICES KEEP SMASHING RECORDS
Median prices for residential property across New Zealand increased by a whopping 32.3% from $620,000 in May 2020 to $820,000 in May 2021, REINZ’s latest data shows.
It is the highest annual percentage increase in house prices since records began; and five out of 16 regions reached record median prices as did 18 districts.
The median house price for New Zealand, excluding Auckland, increased by 28.0% from $530,000 in May last year to $678,500 in May 2021.
Auckland’s median house price increased by 26.9% from $905,000 in May 2020 to $1.148 million in May 2021 – another new record for Auckland. Additionally, Papakura District and Waitākere City reached new record median prices of $900,000 and $1.050 million respectively.
Three other regions also
