Property prices firm up in June, but turnover low

House prices firmed up last month, but turnover remained low says the Real Estate Institute.

The REINZ Monthly Housing Price Index shows house prices increased 0.6 per cent in June. In the three months to June, housing prices were flat, rising by just 0.1 per cent. Compared to 12 months earlier, the index was up 4.2 per cent.

Prices are now 4.5 percent below their November 2007 peak.

The national median residential property price rose to $352,500 during the month, says REINZ, 3.67 per cent higher than the same time last year and ahead of the previous June record of $347,500 recorded in 2007.

Canterbury/Westland had the biggest jump in prices, up 10.2 per cent on June last year, while prices fell by 11.1 in Southland during the same period.

The median house price in Auckland during June was $445,000, up 2.3 per cent on last year.

To read the full NZ Herald story, click here

Posted: 14 Jul 2010

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