New Zealand median property sale prices increased in 14 out of 16 regions during April, with three regions seeing prices reach record highs, according to the REINZ.
Manawatu/Wanganui recorded a record median price of $305,000, up 19.4%, Nelson saw a rise of 15.8% to $550,000 and Otago saw a rise of 19.5% to $460,000. Other regions that saw strong increases were Southland, up 19% to $250,000, Gisborne up 14.3% to $320,000, and Hawke’s Bay up 12% to $431,250.
It should be noted that such high median growth can often be attributed to low overall sales volumes being skewed by a number of very high vale sales.
