Quotable Value Ltd’s monthly chart of house price movements, out today, shows Auckland going from a just-positive 0.4% shift over the 12 months to November, to a just-negative 0.4% shift for the December year.
The Real Estate Institute said today the median house price for Auckland was higher this August than last – the first time in 6 months the 2018 price has been higher.
Barfoot & Thompson managing director Peter Thompson says key price indicators are pointing to Auckland house prices starting to rise.
The median residential sale price in Auckland fell again in May compared to a year earlier, but was up $2000 from April, the Real Estate Institute said yesterday.
The rebalancing of New Zealand’s house price ratios continued in March, as the median price outside Auckland, as measured by the Real Estate Institute, rose 6.2% while Auckland’s median fell 2.2%.
The median house price for New Zealand rose 6.9% in the year to February to $530,000 from $496,000 in February 2017, according to the latest data from the Real Estate Institute.