Housing prices reach all time high in some New Zealand
Asking prices for houses in parts of New Zealand have reached an all-time high. Prices in Otago, Southland, Wellington and Waikato are soaring to the steepest asking prices since the records began in 2007.
The average asking price for a home in Otago rose 8.3 percent in May, bringing it up to $454,102 and Southland prices climbed even further, increasing by 9.5 percent to $344,688.
Wellington also reached new heights. Prices in the capital have been stable in the mid $600,000s for the first four months of 2019, but leapt to a new record high of $684,300 – a 4.2 percent increase on the previous month.