PHOTO: ABIGAIL DOUGHERTY/STUFF How fast things pick up for the real estate market will depend on how we shift out of lockdown, Bindi Norwell says.
New Zealand’s real estate market is on hold “to a certain degree”, the chief executive of the Real Estate Institute says, but people are finding ways to keep things moving.
Data just released shows that median house prices were up 13.7 per cent year-on-year in March, to a record national median of $665,000.
Eight regions had new record prices in the month, which finished with New Zealand going into level four lockdown.
Auckland’s median house prices increased 11.1 per cent to a new record median of $950,000.
“March was an extremely buoyant month for residential property across the country. March marked four months in a row where every region in the country saw an annual increase in median prices,” said Real Estate Institute chief executive Bindi Norwell.
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