The Real Estate Institute of New Zealand (REINZ) revealed that the national median house price registered a rise of 9.6% in December 2009, compared with the same month the year before, a record high for that time of the year.

The figures received from REINZ claim that the median price last month was $360,000 in comparison to $328,500 in December 2008. The price rose in 11 out of the 12 districts nationwide.

Northland declined among the 12 regions, with median prices down a little over 2% to $306,000.

REINZ president Peter McDonald shared that even though fewer than 5,000 properties were sold in December, they were "well sought after", taking a median of 33 days to sell - one of the shortest sale times of the year.

Nelson/Marlborough region witnessed a climb of 14.5% to $343,500 reporting the highest climb, Southland which rose 10.8% to $184,000 while Hawke's Bay was up 9.4% to $290,000.

Real Estate Institute of New Zealand President Peter McDonald cited that a paucity of properties available for sale was propelling the market.

The Tax Working Group is yet to deliver its report for recommendations to the Government this week and Doyle revealed that it seems that housing would be a vital pillar of its recommendations.

Latest house prices are around 4% below their peak in late 2007.