This is an index with base year Jan 1992=1000. The monthly REINZ residential sales reports remain the most contemporary and up-to-date statistics on house prices and sales in New Zealand. They are based on actual sales reported by real estate agents. These sales are taken as of the date that a transaction becomes unconditional. Other surveys of the residential property market are estimates only of property value, based on information from Territorial Authorities regarding settlement and the receipt of documents by the Authority from a solicitor. As such, this information involves a lag of four to six weeks before the sale is recorded by the Territorial Authority. REINZ sales figures are recorded on the day a transaction is concluded and includes sales as of 5:00pm on the last business day of the month. Median price of all dwellings sold in New Zealand during the month. Includes both used and new homes.