REINZ figures show Manawatū-Whanganui’s average house price hit a record $580,000 last month, up 36 per cent since June 2020. The Manawatū-Whanganui housing market has hit a major milestone as house prices continue to soarThe region became the first area in New Zealand to crack the 5000 mark on the Real Estate Institute’s House Price Index. That meant the region’s house prices have risen more than 400 per cent since 2003. The regional average house price started much lower than most of New Zealand, and Whanganui and Rangitīkei’s markets had pulled it down for a long time. After three months of dwindling listings, the market hit an upswing just before the Christmas holiday lull.

Source: Stuff July 13, 2021 02:03 UTC