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Median prices for residential property across New Zealand increased by 15.4% to $795,000 in September 2021 compared to $689,000 in September 2020.
“Various levels of lockdown across New Zealand have influenced activity in the real estate market this month lending to mixed results. We expect to see a rise in activity as restrictions ease further, especially in Auckland. Demand suppression measures introduced this year, recent moves by the Reserve Bank to increase the OCR, and COVID-19 restrictions to real estate activity are creating headwinds for house prices and we can see that the pace of price rises has slowed over recent months,” Jen Baird, REINZ CEO.