Kapiti House Prices Rise

March 13, 2018

The median house price for New Zealand rose 6.9% in February to $530,000 up from $496,000 in February 2017 according to the latest data from the Real Estate Institute of New Zealand (REINZ).

 

REINZ Spokesperson Mark Coffey says Kapiti have seen double figure increase and demand is continuing to be steady with more listings on the market. 

                                               

Bindi Norwell, Chief Executive at REINZ says: “Median house prices increased in 14 out of 16 regions across New Zealand during February 2018 compared to February 2017, including a record high in the Hawke’s Bay.

 

Mr Coffey says prices in the Kapiti area have definitely  been “holding up” thanks to the construction of Transmission and the Expressway.

 

However, he says there is a little dark cloud hanging over the area right now in light of the recent news that Air New Zealand is pulling out of Kapiti.

 

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