Median house price up $166,000 in 12 months

The latest REINZ house price report is out.

The median house price is $166,000 higher than 12 months ago. So if you are on the top tax rate you would need to have earnt an extra $250,000 to be able to afford the same house as a year ago.

The median price in Auckland is now $1.175 million and Wellington is $861,500.

A year ago only 18% of houses sold for over $1 million and now it is 35%.