New Zealand’s average house price fell to $352,000 in December a decrease of $8,000 compared with last month and was down from $355,000 in December 2009.
The number of properties sold was down, with 4,397 sales in December compared to 5,138 in November, according to the Real Estate Institute of New Zealand (REINZ).
December house sales were down by 11 percent, compared with the same time last year.
REINZ spokesperson, Helen O’Sullivan said “December sales volumes are always subject to the timing and impact of the great New Zealand Christmas shut down and January’s figures will provide a better picture of market activity over summer.”
- House prices are 2.2 percent lower than 12 months ago, when New Zealand’s median house price was $360,000.
- The number of properties sold fell from 4,957 in Decenber 2009 to 4,397 in December 2010.
- The average number of days to sell a house was 39, an increase on the 33 days needed in December 2009.
On an annual basis, one of the country’s twelve regions saw a rise in prices, nine saw a fall and two were unchanged.
Annual New Zealand House Price Changes
| Region | Median Price December 2010 |
Change since December 2009 |
| Northland | $296,000 | down 3.3 % |
| Auckland Region | $455,000 | down 3.2 % |
| Waikato / Bay of Plenty / Gisborne | $315,000 | down 1.6 % |
| Hawkes Bay | $285,000 | down 1.7 % |
| Manawatu / Wanganui | $220,000 | down 4.3 % |
| Taranaki | $268,000 | down 4.3 % |
| Wellington Region | $400,000 | no change |
| Nelson / Marlborough | $327,000 | down 4.8 % |
| Canterbury / Westland | $305,000 | down 4.7 % |
| Central Otago Lakes | $400,000 | down 7.5 % |
| Otago | $235,000 | up 2.2 % |
| Southland | $184,000 | no change |
| New Zealand | $352,000 | down 2.2 % |