Whanganui house prices soar as regional average hits $500,00

The average Whanganui property price has risen almost 8 per cent in a year. Photo / Bevan Conley

The average asking price for a Whanganui property rose 7.8 per cent in the year to March or almost $20,000 to sit at $264,800.

That contributed to an average house price increase outside Auckland, Wellington and Christchurch of 6.8 per cent in the last year to reach $502,950.

Manawatu/Whanganui was the second-fastest growing region at 14.4 per cent behind only Hawkes Bay at 15.1 per cent.

Head of Trade Me Property Nigel Jeffries said almost all regions had seen growth in the last year with many hitting record asking prices in March.

"While the dip in the Auckland housing market has been making headlines, our property market is still very strong outside the overheated market in the Super City," he said.

New Zealand-wide, the average asking price rose 1.7 per cent on last month to
$636,650.

Mr Jeffries said this relatively slow growth was linked to the Auckland dip.