Bindi NorwellThe number of houses sold in Otago has increased by half on the previous month as prices continue to rise on last year. According to figures from the Real Estate Institute of New Zealand the median house price in Otago is up by 19.9% on a year ago — bringing it to $551,000. The region was also given a new high in REINZ’s house price index with a score of 3285, meaning house prices have increased by more than 200% since 2003. Nationwide house prices hit a record, up $80,000 within a year. National house prices rose from $560,000 last February to $640,000 last month and seven regions reported record medians.

Source: Otago Daily Times March 13, 2020 15:33 UTC