Medians, averages, ups, downs and what can I get...

Last month the national median house price was $540,000, remaining unchanged from the previous month but up 6.7% from this time last year according to the latest figures from REINZ.
In Auckland, the median price was $865,000, up 1.6% compared to April and up 5% compared to the same time last year. May's median price in Auckland declined in three districts: Central Auckland, Franklin, Papakura and rose in three districts: Manukau, North Shore and Rodney — Waitakere remained unchanged.
The number of residential properties sold throughout the country increased to 7354 in May from 5985 in April, but remained well below the 9009 sold in May last year.
The median number of days to sell increased to 37 in May from 34 the previous month and 32 in May last year. Nationally, the total number of homes available for sale was flat compared to a year ago, but was up 47% in Auckland.

What can I get for the average price?

The latest national figures show the average price you will pay to buy a property in New Zealand is now $592,518. So, what does that buy you exactly?
Well, here is one in the New Plymouth district with an asking price above $520,000 on 2 acres and with four car garaging... Not bad!

This link provides a few other examples of homes available for sale that are priced within the NZ national median house price average: Homes selling at the NZ national median price.

For more information on how the median house sale prices are calculated, click here.