Building consents for new dwellings are at a higher level in New Zealand than last year, up 12% in April compared with the same month in 2015.
In seasonally adjusted terms the number increased by 6.6% but growth has eased in recent months, according to the data from Statistics New Zealand.
However, the annual total is still at an 11 year high although most of the growth has been in Auckland and nearby regions, while Canterbury has decreased.
A chronic lack of supply is fuelling a regional growth in house prices and sales volumes in New Zealand, according to the latest monthly index report.
Sales volumes hit new levels and median house prices reached new record highs across more regions of New Zealand than ever before, according to the latest figures from the Real Estate Institution of New Zealand.
Record median prices were reached in Waikato/Bay of Plenty, Taranaki, Canterbury/Westland and Otago. The report explains that this shows the growing halo effect of rising prices around New Zealand is strengthening in the regions where it is already present, and moving on to new regions, driven by a chronic lack of supply.
New Zealand's government said on Thursday it planned to require local authorities to free up land for housing in an attempt to curb soaring property prices, which have the central bank worried.
New Zealand house prices rose in May, the government property valuer said on Wednesday, driven by strong investment and the surging Auckland property market.
House prices in Auckland, New Zealand, look set to continue rising throughout this year after a buys month of March, and rents are also up, the latest index figures show.
The average sale price for the month was $866,782, and the median price was $798,000, according to the latest data monthly report from real estate agents Barfoot & Thompson.
The March average sales price was the third highest on record, within $10,000 of the all-time high in November last year, and 5.4% higher than last month while the median price at $798,000 is the second highest on record, within $2000 of the all-time high in December last year, and up 8.1% on February’s median price.
New Zealand house prices continued to rise in March, government property appraiser Quotable Value (QV) said on Wednesday, driving its residential property price index up an annual 11.4 percent.
The index is now 35 percent above the market's previous peak in late 2007, QV said.
Residential house price growth in Auckland, New Zealand, slowed in the second half of 2015 but are still higher than where they were at the same time last year.
The latest data show that average price at $822,024 in February was up 1.3% on the average price for January and up 10% year on year while the median price at $738,000 was down 2.9% on January but up 7.5% on last February.
‘While prices are down from their record highs, based on past trends, prices in coming months are most likely to build modestly,’ said Peter Thompson, managing director of agents Barfoot & Thompson.
A crowdfunding campaign to buy a New Zealand beach has had its bid accepted after reaching its funding target.
Nearly 40,000 people donated almost NZ$2.3m (£1m, $1.5m) to buy the Awaroa beach in the Abel Tasman National Park, on the north coast of South Island, which went on sale last year.
Campaigners said the government and another major donor also contributed.
Five years after earthquakes devastate the New Zealand city of Christchurch it has been announced that housing is now on track for a full recovery.
Housing has been one of the most complex and challenging problems in the aftermath of the disasters that struck in 2010, according to housing officials and ministers but they added that the Government’s wide ranging support as ensured the city’s housing market is nearing recovery five years.
‘The Government has taken a step by step approach and officials project that by June 2017, the Christchurch housing market will be fully recovered with supply and demand back in balance,’ said Building and Housing Minister Nick Smith.
New Zealand's residential property price index rose 12.6 percent on the year in January, government property valuer Quotable Value (QV) said on Tuesday.
The valuer said the index was now 34.2 percent above the market's previous peak in late 2007.
In December, property values rose 14.2 percent.
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