PHOTO: PETER MCINTOSHNew Zealand house prices have set a new annual record, and Otago and Southland are in the top six fastest-rising areas for annual median house prices. Latest Real Estate Institute data showed that was the first time this country's house prices had gone above $600,000. Otago has risen to a new record annual median house price at $550,000. Southland was the area with the second highest percentage of growth, at 23.5% just behind Gisborne, when it came to annual median house price and had a median value of $315,000. "This is the highest number of regional record prices we've seen for the country in 23 months."

Source: Otago Daily Times November 13, 2019 21:18 UTC