NZ’s highest house price rises again

Moving house prices in New Zealand have risen again, according to data from the Australian Bureau of Statistics.

The median price for a detached home in Auckland rose 9.1 per cent to $1.65 million, while the median price in Hamilton rose 3.9 per cent, to $2.65m.

The median price across the country rose 1.3 per cent in the year to March, with the average price at $1,868,094.

The rise in house prices was largely driven by Auckland, which has the most detached homes in the country, according a study by real estate research company Zillow.

The city has been in a long-term downturn since the financial crisis.

It had its biggest increase since 2010 when its median house price jumped 17.9 percent to $973,939.

New Zealand’s median home price rose by 4.1 percent to just over $1 million in the same period.

The average price for all houses in Auckland grew 5.4 per cent over the same time period.

In Hamilton, prices have risen 7.4 percent to more than $1m.

In the city’s CBD, prices rose by 9.6 percent.

In the southland, prices increased 5.3 percent over the year, while in the outer suburbs, prices were up just 0.2 percent.

The average price across Auckland was up 3.1% to $3.05m.

In Victoria, prices fell 0.9% over the course of the year and rose 3 per cent by the end of the month.

In Perth, prices dropped 1.5 per cent.

In Hobart, prices jumped by 8.1 and 3.5 percent respectively.

In Canberra, prices declined 0.3 and 1.4 percentage points respectively.

In Sydney, prices dipped 1.2 per cent but rose by 0.5 percentage points.

In Brisbane, prices grew 2.5 and 2.4 points respectively over the last two years.