Noughties Decade House Prices

David Whitburn — Wed, 30 Dec 2009 17:47:55 +0000

As this decade rounds out I think that it is useful to show some numbers about what has happened in this past decade. We haven’t quite completed December 2009 yet. However the November 2009 statistics will not be too dissimilar. Here’s the tables of nationwide median house prices this decade from the Real Estate Institute of New Zealand statistics:

Month	Median Sale Price	% change
Jan 2000	$170,000	-
Jan 2001	$175,000	2.9%
Jan 2002	$175,000	0.0%
Jan 2003	$193,100	10.3%
Jan 2004	$229,000	18.6%
Jan 2005	$265,000	15.7%
Jan 2006	$300,000	11.7%
Jan 2007	$327,000	9.0%
Jan 2008	$340,000	4.0%
Jan 2009	$325,000	-4.4%
Nov 2009 (latest stats available)	$355,000	9.2%

The median house price has risen from 109% over the Noughties decade. Interestingly sections went from $85,000 in January 2000 to a $175,000 median section sales price in November 2009. This represents a 106% gain in section prices for the noughties decade.

My question for you – is what will the median house price be in December 2019 – could they double again to be $710,000?

Watch this space if you are serious about growing your wealth from investment property. Whilst there is little or no pressure for a housing boom no, there are positive factors in certain areas of New Zealand, including increased dairy prices, increased net migration statistics, unemployment not being as bad as feared, and comparatively low short term interest rates.

David Whitburn » NZ house prices

Noughties Decade House Prices