Whanganui's median house price hit a record high in March 2020. Photo / Bevan Conley
The Whanganui district's property market was still booming in March, with a record median house price of $352,560.
Latest figures from the Real Estate Institute of New Zealand (REINZ) show the median price increased 2.2 per cent from the previous high of $345,000 in February 2020. It's a year on
year increase of 33 per cent, with a median of $265,000 recorded in March 2019.
REINZ chief executive Bindi Norwell said March 2020 was an extremely buoyant month for residential property across the country, marking four months in a row where every region had an annual increase in median prices.
However, available housing stock decreased in March, with 67 properties on the market in Whanganui. That's down 17.3 per cent on February when there were 81 properties available and a year on year drop of 28 per cent from March 2019 (93 properties).
Whanganui properties were slightly slower to sell in March, compared with the month on month and year on year data. Last month houses took a median of 31 days to sell, up 3 per cent on the 28 days recorded in February and up 4 per cent on March 2019's 27-day median.
