PN House Prices Reach New High

July 20, 2018

The winter chill has not affected Palmerston North house prices, which are running hotter than ever.

 

The median price for a Palmerston North home hit $390,000 in June, according to Real Estate Institute of New Zealand figures – the highest it has ever been.

 

Prices went up 7.4 per cent for the year to June, and 4 per cent in the space of a month. 

 

Manawatū REINZ spokesman Andy Stewart said only 22 per cent of the 119 houses sold in the city in June went for less than $300,000, while 44 per cent went for more than $400,000.

 

He says this continues to indicate that in comparison to other areas around New Zealand, our city still has very affordable homes, although prices are definitely rising."

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