The average national house price in February 2019 increased by 2.4% from $584,727 in February 2018 to now sit at $598,970.
When we break it down by the cities and regions we report on, in Auckland, the average house price in February was up 1.6% on the same recorded period for 2018 with the average for the month sitting at $906,944. In Wellington which includes the Taranaki and Hawke’s Bay regions, the average sale price is up 26.5% on the same period in 2018 from $449,014 to now sit at $567,875 which is the most substantial rise in average house price across New Zealand. In Christchurch, the average house price has dropped from $555,957 in February 2018 to $540,459 in February 2019 which is a reduction of 2.8%. For the Central Region, taking in Bay of Plenty and Waikato, the average sale price has risen by 2.6% to now sit at $542,627 for February 2019. In the provincial South Island, the average sale price has seen a 9.2% decrease on February 2018 to fall from $461,319 to now sit at $419,096 in
Chief Operations Officer Harcourts International Jo-Anne Clifford says, “To make the most of the market conditions I’d advise sellers to make sure they are working closely with their sales consultant to create the best possible marketing campaign to connect them with the right buyers, for the best result. When the market is quieter an experienced sales consultant can really prove their worth.”
Disclaimer: All Harcourts MarketWatch figures are current to the end of the reported month and are compared to the same month ended for the previous year. ‘Written Sales’ is defined by all sales brought to contract status, where ‘Settled Sales’ are the results of contracts completed at the close of the reported month. Written Sales are a snapshot of the markets temperature while Settled Sales show what has happened in the previous month.