Auckland real estate continues to overshadow the rest of the country, hitting a median price record for December of $678,000, in the face of an acute housing shortage.
Otago and the separate Central Otago Lakes region booked small gains in the sales numbers, but median prices were flat at $252,500 and $465,000 respectively, Real Estate Institute of New Zealand (REINZ) data showed yesterday.
Queenstown median prices plunged from $606,000 in November to $490,000 in December, which was also well down on the December 2013 price of $513,000.
REINZ regional director, Liz Nidd, said Otago's sales volumes rose 14%, to 242 for December, against a year ago, but the median price was down 0.2% to $252,500. Dunedin's median was down 10% on a year ago, at $265,000, but sales were up 13% to 177.
She said Otago's overall trend was ''easing''.
Nationally there was a 24% boost in sales numbers to 7064 and the national median price gained $23,000 to $450,000. The 2014 price gain was 5.4%, compared with 9.8% in 2013.
REINZ chief executive, Helen O'Sullivan, said there was very strong sales growth, higher than usual December expectations.
''The real estate market remains split between Auckland, with strong demand and price growth, and the rest of the country,'' she said.
Auckland aside, median prices around the country had ''moderated somewhat'', even in Canterbury which had seen strong price growth during the year, but had pulled back to a gain of less than 2%, for the year to December, she said.
