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Despite challenging conditions, median residential property prices across New Zealand have increased by 1.2% year-on-year to $525,000 according to the latest market statistics from the Real Institute of New Zealand (REINZ).

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Overall, the number of properties sold across the country fell by 20% during August, a reduction of 1,472 properties, when compared to the same time last year. This is the equivalent of 47 less properties being sold each day in August 2017 when compared to August 2016.

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The number of properties sold across New Zealand in July fell by a quarter (24.5%) when compared to the same time last year, and the number of properties sold in Auckland fell by 30.6% (for the same period) according to the latest market statistics from the Real Institute of New Zealand (REINZ).

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New Zealand’s property market is showing all the signs of being a two-tier market with Auckland median house price increasing 2.5% year-on-year, but the rest of the country (excluding Auckland) showing growth of 11.4% year-on-year according to the latest market statistics from the Real Estate Institute of New Zealand (REINZ).  Many regions across the country experienced double-digit (or close to it) growth and record median prices have been seen in three regions this month.

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May housing activity clearly shows continued buoyant activity across a number of regions which contrasts with the continuing stability of the Auckland region. We saw record median prices achieved in 4 of the 14 regions we measure – Northland ($450,000), Manawatu/Wanganui ($269,000), Nelson/Marlborough ($483,250) and Southland ($238,000) – suggesting that the regions continue to hold up overall.  See below for the latest regional commentary and market statistics from around the country.

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After record national median prices in March, prices are stable and sales volumes fell across New Zealand during April as the market moved past the traditional March peak and into a typical cyclical April, according to the latest figures released by the Real Estate Institute of New Zealand (REINZ).  See below for the latest regional commentary and market statistics from around the country.

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