The median house price in New Zealand rose to a record $380,000 last month as sales jumped by almost a third compared to October 2011, the Real Estate Institute says.
Sales rose 32.6% to 6640 in October from a year earlier and were 17.5% higher than in September this year, the institute says in its monthly report. The median house price rose from $371,000 in September.
The REINZ Stratified House Price Index, which adjusts for the proportion of higher or lower-value homes sold, climbed 6.9% from October last year to a record high index level of 3495.1.
Auckland's median house price also set a new record, rising 2.9% to $530,000.
All regions recorded an increase in sales volumes from the same month last year, with the biggest gains coming for Central Otago Lakes jumping 54%, Northland up 52% and Hawke's Bay up 47.7%.
The national median days to sell improved to 32 days from 35 days a year ago. In Canterbury/Westland days to sell fell to 28, the second lowest since April 2007.
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