Auckland home sales hit 4-year low in November

Thu, 10 Dec 2015

By Edwin Mitson Dec. 10 (BusinessDesk) - The number of Auckland homes sold in November fell to the lowest level since 2011 on a seasonally adjusted basis. Figures from the Real Estate Institute of New Zealand (REINZ) showed volumes fell 11.5 percent compared to October, while in the rest of the country sales rose 4.6 percent. However the shortage of homes meant that prices continued to rise, up 2.2 percent, or $16,750, to $765,000 compared to the previous month, for a 14.2 percent annual increase. That compares with annual increases of 16...

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