Auckland house prices up - rest of NZ falls in April

The number of house sales fell 17.8 per cent last month from the month before. Photo / NZ Herald.

Auckland median house price rose 18 per cent or $108,500 annually, from $611,500 last April to $720,000 last month, according to the Real Estate Institute.

But in a reflection of how prices in the biggest city house are out of step with other areas, the national median price fell 4.2 per cent or $20,000 from March to April to land at $455,000 last month.

The volume of sales also fell 17.8 per cent from March to April and REINZ said 7234 dwellings were sold last month.

Colleen Milne, REINZ chief executive, noted Auckland activity.

"Auckland continues to dominate the real estate market in terms of price movements. The strong price movements in Auckland, particularly on the North Shore and in Rodney, continue to be driven by high demand from all types of property buyers and from a lack of sufficient new supply - both new builds and listings of existing properties," Milne says. "New builds take time to be completed. Meanwhile the very low level of new listings suggests that potential vendors are considering factors other than just price in making the decision whether to sell their properties," she said.

However other areas had seen price rises too, she said, citing Northland, Hawkes Bay and Central Otago Lakes, Waikato/Bay of Plenty, Otago and Taranaki, she said.

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