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Home / Northern Advocate / Business

Property prices good for sellers

Northern Advocate
11 May, 2016 12:50 AMQuick Read

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Northland is one of the star performers in the rising property market.

New Zealand residential property values increased in the year through April, aided by low interest rates, with Northland prices up 8.5 per cent to a median of $492,423.

The average for Whangarei district house sales last month was $439,233, with 205 properties of the country's 10,259 listings.

That compares with $414,615 for April last year, with 174 properties listed from the country's total of 9673.

The average value of a New Zealand home rose 12 per cent to $568,058 in April from the year earlier, up from an 11.4 per cent rate of increase in the March year, according to state-owned valuer, Quotable Value.

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Growth in Auckland house values slowed marginally to a 16.5 per cent annual pace in April, from 16.9 per cent in March, taking the average value in the region to $942,760.

The majority of the regions are in a sellers' market phase, with Coromandel, Bay of Plenty and Southland also performing well.

Northland, as well as Bay of Plenty and Southland, recorded significant increases in new listings, compared with April 2015.

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