NZ annual house sales rise for the first time in 13 months, driven by high-end properties

Tue, 09 Dec 2014

By Tina Morrison Dec. 10 (BusinessDesk) - New Zealand annual house sales rose for the first time in 13 months, driven by higher value properties as the lower end of the market is crimped by Reserve Bank mortgage lending restrictions. The number of houses sold rose 6.5 percent to 7,416 in November, from the same month a year earlier, the Real Estate Institute said in a statement. The national median sale price rose 7.2 percent to a record $455,750. The housing market was more buoyant for properties over $1 million, where volumes increas...

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