House median prices and sales volumes continue to break records

The Real Estate Institute reports just under ten thousand properties sold in the month of November, figures that haven't been seen since before the Global Financial Crisis.

In the past year, the Manawatu Wanganui median house price rose almost 29 percent, crossing the half million mark, to a record 503 thousand.

OneRoof editor Owen Vaughan says the growth rate is astonishing.

He says record sale prices used to sit unchallenged for months or years, now they're being toppled within 48 hours.