PHOTO: March, 2018 Statistics- REINZ

The median house price for New Zealand rose 1.8% in March 2018 to reach a new record high of $560,000 up from $550,000 in March 2017 according to the latest data from the Real Estate Institute of New Zealand (REINZ), source of the most complete and accurate real estate data in New Zealand. Median prices for New Zealand excluding Auckland increased by 6.2% year-on-year to a record high of $460,000.

Additionally, three regions achieved record prices:

• Gisborne – up 17.9% to $330,000 (up from $280,000)
• Hawke’s Bay – up 11.7% to $445,000 (up from $398,500)
• Wellington – up 10.0% to $583,000 (up from $530,000).