Me­dian price up on 2016


The me­dian Taupo house price is up 32 per cent, com­pared to the me­dian price in May 2016.

Sta­tis­tics from the Real Es­tate In­sti­tute of New Zealand [REINZ] showed the me­dian price for a Taupo District house was $337,000 in May 2016.

Just 12 months later, the me­dian price has in­creased by $108,000 to $445,000 – the largest in­crease in the Waikato re­gion.

Alex Keys from Keys Valuers said his lo­cal anal­y­sis sup­ported the trends iden­ti­fied by REINZ.

‘‘The Taupo mar­ket has a short­age of stock. Low list­ings avail­able, com­bined with high de­mand from pur­chasers, are cre­at­ing up­ward price pres­sure,’’ he said.

‘‘While May sales ac­tiv­ity was high with 95 sales recorded, the sig­nif­i­cant in­crease in the me­dian sale price is a com­bi­na­tion of a value in­crease and the price range of the sales trans­ac­tions that oc­curred in May.

‘‘Our anal­y­sis would sug­gest the me­dian house in Taupo has in­creased around 15 per cent over the last 12 months.’’

Bindi Nor­well, REINZ chief ex­ec­u­tive, said Auck­land house val­ues weren’t the only ones boost­ing year on year.

‘‘May hous­ing ac­tiv­ity clearly shows con­tin­ued buoy­ant ac­tiv­ity across a num­ber of re­gions which con­trasts with the con­tin­u­ing sta­bil­ity of the Auck­land re­gion,’’ she said.

‘‘Auck­land me­dian house prices in­creased 5 per cent year-on-year to $865,000, show­ing con­tin­ued growth in the Auck­land hous­ing mar­ket, al­beit at a slower rate than the pre­vi­ous year.’’

Over­all, the Waikato re­gion’s me­dian house price was $486,000 in May – 20 per cent higher than the me­dian price in May 2016 ($405,000).

This in­cluded a 25 per cent in­crease in the me­dian price in the South Waikato ($165,000 to $220,000) and 9.8 per cent in­crease in the me­dian Hamil­ton City house’s value ($479,000 to $526,000).

The av­er­age num­ber of days to sell a house in the Waikato re­gion eased by 11 days com­pared to May 2016.

Na­tional me­dian house prices in­creased 6.7 per cent to $540,100 (up from $506,000) in the year to May 2017.

Taupo’s me­dian house price in May was 32 per cent higher than the me­dian price in May 2016.

Newspapers in English

Newspapers from New Zealand

© PressReader. All rights reserved.