NZ home values increase at slowest annual pace in 5 months

Mon, 31 Oct 2016

By Tina Morrison Nov. 1 (BusinessDesk) - New Zealand residential property values increased at the slowest annual pace in five months in October, as tougher lending restrictions constrained Auckland growth. The average value of a New Zealand home rose 13 percent to $622,309 in October from a year earlier, the weakest annual growth rate since May, according to state-owned valuer Quotable Value. Growth in Auckland house values increased at a 14 percent annual pace in October, the slowest rate since March 2015, taking the average value for...

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