New Zealand’s capital city Wellington has been one of the biggest winners this year, as the city rose 10% year-on-year, according to the Real Estate Board of New Zealand.
In the city’s peak, its median price was $1.3 million (NZ$1.4 million).
The median price of a home on the city-owned property market rose 7% year on year to $1,746,600, while median sales prices fell 3% year to NZ$2.27 million (around US$1 million).
The median price also rose 6% year over year to a record $1 million, while the median price per square metre rose 8.3% year upon year to 7,902 (around $1 per square foot).
The city’s median house price rose 21% year and year to US$2,828,900, while its median property price rose 5.9% to US$.4 million (US$3.4 per square meter).
The price per hectare rose 12.2% year, to 6,907 (US $6 per hectal per acre).
Wellington’s median income rose 4.3%, to $57,898 (NZ£45,000).
The average price of an Auckland house rose by 12.4% year.
Auckland’s median household income was $66,000 (NZ€59,000), up 8.5% year; the national average was $64,400 (NZ¢70,000); and the median Auckland salary was $46,100 (NZ¥45,600).
The median property prices of Auckland’s largest cities also rose year-over-year.
Auckland City Centre had the most increases at 6.6%, while Wellington’s second most expensive city was Wellington’s largest city, Hamilton, which had the biggest increase of 9.1%.
The median Auckland property price fell 8.7% year after year to New Zealand$3,085,800 (US¢5.9 million), with the median Hamilton property price falling 2.5%.
The average Auckland house price grew 4.6% yearupon year to around NZ$1,000,000 ($1,100,000 per square-metre).
The national median Auckland house was $380,200 (NZD$480,000) and the national median Hamilton house was NZ$380,300 (NZd¥330,600).
Auckland house prices were up 9.6%.
The median house value of Auckland was $3.5 million (about US$3 million).
The Wellington area has the highest average house price per capita in the country at US$16,500 (about NZ$25,000/person).
Wellington has the third highest average median property value per capita at NZ$5.8 million (close to US $8 million).
Wellington had the lowest median property values per capita of any major city in New Zealand last year at $3,000.