Auckland average house price rises to record in December as supply dwindles in peak selling season

Tue, 07 Jan 2014

By Tina Morrison Jan. 8 (BusinessDesk) – Auckland’s average house price rose to a record in December as property values benefited from a lack of supply heading into the peak summer season. The average sale price rose to $700,387 in December, from $684,646 in November and $624,015 in December 2012, according to realtor Barfoot & Thompson. The median price rose 1.2 percent from November to $629,000 and was 14 percent ahead of the year earlier month. New Zealand’s Reserve Bank introduced restrictions on high debt mortgage lending from October l...

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