House price inflation rekindles but low sales volumes suggest caution

Thu, 12 Sep 2019

By Jenny Ruth Sept. 13 (BusinessDesk) - House price inflation appears to be taking off again but sales volumes in August were down 6.1 percent from a year ago and at the lowest level in seven months. The Real Estate Institute of New Zealand's house price index rose 2.9 percent in the year ended August, up from the 1.5 percent annual pace in July. But only 5,959 homes sold in August, down from 6,118 in July and 6,346 in August last year. REINZ chief executive Bindi Norwell says the low level of sales "was a bit of a surprise, given t...

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