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House prices rise across New Zealand

Radio New Zealand logo Radio New Zealand 14/03/2018

no caption © RNZ / Richard Tindiller no caption House prices and sales have risen in most parts of the country.

The Real Estate Institute said the house price index rose 1.4 percent in February, over January, with the annual rate up 3.9 percent

All but two of the 16 regions experienced increases, with the Hawkes Bay, Southland, Northland and Manawatu-Whanganui recording double digital rates of annual growth.

Auckland's regional price growth continued to slow, while the national median house price rose nearly 6.9 percent to $530,000, an increase of $34,000 over last year's $450,000.

In Auckland, property prices rose a more modest 4 percent to $858,000.

Hawke's Bay property prices were a standout, rising 18.4 percent, to hit a record $444,000.

Gisborne and the West Coast saw prices fall.

The number of properties sold nationally increased 1.2 percent to 6,373.

However, it was taking a bit longer to sell houses on average - an increase of four days to 44.

The number of homes sold by auction in Auckland fell 23 percent over last year.

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