Reinz data shows house prices lagging inflation and growth higher outside Auckland than within

Reinz data shows house prices lagging inflation and growth higher outside Auckland than within
(Image: Getty)
Dileepa Fonseka
House price index data for April shows prices trailing inflation, especially within New Zealand's biggest city. However, economists and the Real Estate Institute of NZ (Reinz) say stronger house price growth could be on the way thanks to changes to the bright-line test, the reintroduction of interest deductibility and population growth.Year-on-year Reinz house price index (HPI) data for April showed the market rising 2.8% year-on-year, compared to an inflation rate of 4% in the 12 months to March.Price growth in Auckland year-on-y...

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