Strong year for Waikato house prices
House prices across the Waikato hit a new median high of $850,000 in December, with four districts also seeing new record median prices, according to the latest figures.
And the post-lockdown release of Aucklanders also brought hope, with reports it prompted some higher-end listings.
The December Real Estate Institute of New Zealand property market report revealed prices across the Waikato were up 25.9 per cent on the year earlier.
There was a rise in listings and appraisals, said REINZ regional director Neville Falconer.
‘‘Anecdotally, some vendors chose to list their high-end property in the hope that Aucklanders in the market over summer would purchase.’’
Falconer said that at present, ‘‘finance is the central obstacle for buyers, and this has impacted the number of deals in December’’.
‘‘It is expected that the Waikato market will see an uplift in sales in January and February as people continue to move about the country freely.’’
As well as a new Waikato regional median high, there were highs for four districts: Hauraki ($695,000), Matamata Piako ($760,000), South Waikato ($535,000) and Waipā ($890,000).
‘‘The borders opening has allowed more people to travel and view properties, and it was easier to complete settlements than in previous months,’’ Falconer said.
Of the ten Waikato districts covered by the REINZ data, nine saw doubledigit rises in price from the year earlier. South Waikato District saw the biggest year-on-year rise, up 48.6 per cent, followed by Waikato District (42.9 per cent) and Thames-Coromandel District (37.6 per cent).
REINZ chief executive Jen Baird said December was a solid close to a strong year for the New Zealand housing market.
‘‘House prices were considerably higher than December 2020, demand and sales activity remained firm, and there was a welcome increase in new listings through November and into December,’’ she said. ‘‘Across New Zealand, there was an annual increase of 21.5 per cent in the median price, reaching $905,000 – down 1.6 per cent compared to November 2021.