New official figures from the Real Estate Institute show the national median house price increased 21.5 percent last year.

The median price is now 905-thousand dollars, up from 745-thousand dollars a year ago.

Seven regions reached new record median prices.

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Other Business News

16 Sep: ???1;Falling interest rates are yet to flow through to the housing market

16 Sep: Otago has emerged as the most expensive region in New Zealand, for renters

16 Sep: Watties has explained its decision to suddenly end contracts with local peach suppliers

16 Sep: An importer has been hit with a 140-thousand dollar fine after selling small toy cars, that young children could choke on

16 Sep: Our largest sector is continuing to do it tough

16 Sep: New Zealanders are spending less of their income on vehicle insurance, than they were a year ago

16 Sep: No sign of a turnaround yet, for many parts of our economy

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