CORRECT: NZ house values rise at slowest annual pace in nine months

Fri, 06 Jun 2014

(Corrects erroneous QV data in 5th graph) By Suze Metherell June 6 (BusinessDesk) - New Zealand property values increased at slowest annual pace in nine months in May as interest rates increased and loan to value restrictions weighed on the entry point of the market. House values rose at an 8.2 percent annual pace in May, the slowest annual pace since an 8.1 percent increase in August, according to state agency Quotable Value. Residential values rose 0.7 percent over the three months ended May 31. New Zealand’s central bank hiked i...

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