Auckland house median drops $20k

The latest REINZ figures showed the Auckland region's median price fell from $755,000 to June to $735,000 last month, down 2.65 per cent. Photo / Brett Phibbs

The median Auckland house sale price dropped $20,000 last month, according to the Real Estate Institute out this morning, following Barfoot & Thompson sales data which also showed the same trend.

The latest REINZ figures showed the Auckland region's median price fell from $755,000 to June to $735,000 last month, down 2.65 per cent.

Prices fell 10 per cent in Auckland City, and 4 per cent in Metro Auckland, but rising elsewhere across the region. Compared to July 2014 the median price increased by $125,000 (+21%), rising 32 per cent in North Shore and 29 per cent in Waitakere City
REINZ said elsewhere in New Zealand, prices were up. The median price in the regions has increased by 3.3 per cent over the same period, REINZ said.

The national median sales price rose $15,000 in the last month.

"The latest monthly report from the Real Estate Institute of New Zealand shows exceptionally strong sales volumes for midwinter, with very strong year-on-year growth in the top half of the North Island and Central Otago Lakes in particular.

There is also continued anecdotal evidence of Aucklanders buying in these regions, as owner occupiers and investors.

The national median price was $465,000 for July, an increase of $49,000 on July 2014 and $15,000 from June," REINZ announced.

Auckland recorded the largest percentage increase in median price compared to July 2014, at 21%, followed by Northland at 16% and Southland at 15%. Nelson / Marlborough recorded the largest percentage increase in median price compared to June, with 8%, followed by Otago with 7% and Hawkes Bay with 4%.

Auckland sales dominated the auction market last month, representing 74% of the national total of auction sales and 44% of all dwelling sales in Auckland were by auction, compared to 30% in July 2014.

See the full report here: