South's average house price soars

The median Southland house price in September was $132,000, up from $95,000 in September 2003, a rise of 38.9 percent – well above the national median rise of 16.3 percent.

Winton experienced the biggest median gain, up from $87,500 in September 2003 to $162,000 in September 2004. Invercargill rose from $104,000 to $119,000, Gore from $70,500 to $81,000, while Riverton remained steady rising from $113,250 to $113,750.

Queenstown, Te Anau and Bluff median prices all dropped.

Te Anau median prices dropped from $195,000 to $175,000, Bluff from $61,000 to $57,450 and Queenstown from $443,000 to $405,000.

Read More - Opens in a new window