The housing market paused for a cup of tea last month, with the national median selling price declining by $20,000 to $455,000, a fall of 4.2% from the March median of $475,000, according to the Real Estate Institute of NZ.
In Auckland, where the market has been the most overheated, the regional median was unchanged from March at $720,000, although that was up 18% compared with April last year and there were significant variations in price movements within the region.
Median prices fell in Waitakere (-1.4%), Auckland Central (-7.2%) Rodney (-0.9%), and outer Auckland (-3%) and increased on the North Shore (+6.9%) and Manukau (+1%), compared to March.
Around the rest of the country, the median price declined in Whangarei (-4.2%), Taupo (-5.1%), Tauranga (-10.6%), Mt Maunganui/Papamoa (-4.3%), Palmerston North (-10.9%), Wanganui (-2%), New Plymouth (-3.6%), Hutt Valley (-1.4%), Northern Wellington (-10.3%), Eastern Wellington (-8.3%), Central Wellington (-25.6), Western Wellington (-8.1%) and the West Coast (-9.2%), compared to March.
Median prices increased in Hamilton (7.1%), Rotorua (2.5%), Gisborne (6%), Napier (16.6%), Hastings (7%), Southern Wellington (3.3%), Nelson City (5.2%), Christchurch (0.2%), Queenstown (4.7%), Dunedin (3%) and Invercargill (14%), compared to March.
When Auckland's sales figures are removed, the median selling price of homes sold in the rest of the country in April was $353,000, which was up $3000 (0.9%) compared with March.
There were 7234 homes sold In April, a decline of 17.8% compared with March but up 27.6% on April last year.
The REINZ said the number of sales was in line with what would normally be expected at this time of year.
The median number of days it took to sell a property increased from 32 days in March to 34 days in April, which was the same amount of time it took in April last year.
To read the REINZ's full regional reports on sales activity in April, click on the following link:
We welcome your comments below. If you are not already registered, please register to comment
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.