NZ mid-table in global house-price changes

Photo / NZH

New Zealand has placed near the middle of an international list ranking house-price changes.

The Economist magazine said the country's house prices had increased overall by 97 per cent in the 12 years from 1997.

But it used figures from QV to show our prices falling 9.2 per cent over the last year, putting us in ninth place on the chart.

Last Monday, QV updated its figures and recorded an 8.1 per cent annual drop for New Zealand.

The international list showed house prices falling in most countries, but Singapore and the United States were the hardest hit.

This week, New Zealand's Real Estate Institute released data from last month showing the slump continuing here in terms of volumes and prices.

The median national price dropped from $340,000 in April to $337,000 last month, when houses worth $2.6 billion changed hands.

Auckland's median improved from $435,000 in April to $450,000 last month, based on 2114 transactions.

The North Shore median went up from $493,000 to $505,000, based on the 424 deals done there.

Waitakere prices dropped from $369,750 in April to $357,500, Papakura was down from $356,500 to $331,000 and Manukau was up from $440,000 to $450,000.