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

New Zealand House Prices Rise, Sales Fall In June

07/17/2018 - 00:50:00 (RTTNews)

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

The national median house price index climbed 5.7 percent year-over-year to NZ$560,000 in June. Month-on-month, house prices remained unchanged.

On a seasonally adjusted basis, national median prices rose 5.2 percent in June from a year earlier.

In Auckland region, house prices declined 0.7 percent annually, while it increased 0.5 percent from the preceding month.

Meanwhile, the volume of home sales decreased 1.6 percent yearly in June. In Auckland, the number of sales rose 0.7 percent.

Compared to May, the volume of sales dropped 5.4 percent in June. On a seasonally adjusted basis, home sales registered a sharp fall of 23.2 percent.

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