Property prices reach all-time high
|
Photo / Herald on Sunday
The national median house price has attained its highest ever level, passing the $352,000 reached in November 2007.
Real Estate Institute of New Zealand (REINZ) figures published today put the national median house price in October at $355,000, nearly 6 per cent higher than a year earlier and $5000 higher than September.
That takes the national median to its highest ever level, $3000 above the mark reached in November 2007, REINZ data shows.
Overall, house prices continued to rise last month but the number of sales was lower than in September, latest figures show.
The time taken to sell also improved in October, with the national median at 31 days last month, compared to 33 in September and 47 a year earlier.
The 6091 properties sold last month was down from 6464 in September, but well up from the 4469 sold in October 2008.
