Two out of the 16 regions reached new record median prices, while two regions had equal records and 20 districts reached new record median highs. READ MORE:* House prices defy expectations to rise by nearly 30 per cent* Buyers need to find extra $200k to buy a home, Real Estate Institute data shows* What will happen if house prices fall? Canterbury also hit a new record median price with a 24.7 per cent increase to $595,000 from $477,000 in July last year. Manawatū/Whanganui, where prices gained 31.8 per cent price, and Southland, which was up 16.7 per cent, had record median prices equal to those recorded last month, with $580,000 and $420,000 respectively. Alden Williams/Stuff The Auckland region's median house price hit a new record of $1.17 million in July.

Source: Stuff August 11, 2021 21:00 UTC