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Financial News: New Zealand House Prices Rise, Sales Fall In

New Zealand House Prices Rise, Sales Fall In March

04/17/2018 - 02:10:00 (RTTNews)

(RTTNews) - New Zealand's house prices increased in March from a year ago, while sales declined notably, the Real Estate Institute of New Zealand reported Tuesday.

The national median house price index climbed 1.8 percent year-over-year to a new record high of NZ$560,000 in March. Month-on-month, house prices grew 5.7 percent.

On a seasonally adjusted basis, national median prices rose 1.9 percent in March from a year earlier.

In Auckland region, house prices declined 2.2 percent annually, while it increased 2.9 percent from the preceding month.

Meanwhile, the volume of home sales plunged 9.9 percent yearly in March. In Auckland alone, the number of sales declined 12.0 percent.

Compared to February, the volume of sales surged 18.8 percent in March. On a seasonally adjusted basis, home sales registered a decreased of 6.1 percent.

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