House prices have skyrocketed to a record high in Gisborne

New figures from the Real Estate Institute show the median price for a house in the Gisborne District increased almost 55-percent in the year to May.

That means a house will set you back around 440-thousand dollars, up from 285-thousand at the same time last year.

The price jumped by a staggering 23-percent alone last month -- the equivalent of about two-thousand 645-dollars every day.

By contrast, house prices in the West Coast, Tasman, Northland and Marlborough are all in decline.