New Zealand House Prices Rise, Sales Plunge In August: REINZ

New Zealand’s house prices increased in August from a year ago, while the volume of sales plunged, the Real Estate Institute of New Zealand reported Friday.

The national median house price index rose 8.2 percent year-over-year to NZ$530,000 in August. Median prices increased 2.3 percent, month-on-month.

On a seasonally adjusted basis, national median prices grew 7.6 percent in August from a year ago.

In Auckland region, house prices slid 1.2 percent annually in August, while it rose 1.2 percent from the prior month.

Meanwhile, the volume of home sales tumbled 20.0 percent yearly in August. In Auckland alone, the number of sales plunged 21.5 percent.

by RTT Staff Writer

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