NZ home values rise at fastest quarterly pace in 12 years

Tue, 02 Aug 2016

By Tina Morrison Aug. 2 (BusinessDesk) - New Zealand residential property values rose at the fastest quarterly rate in 12 years, with the national average value of a house now topping $600,000. That's a 6.1 percent in the three months through July to $602,434, marking the fastest quarterly gain since December 2003's 6.8 percent pace, according to state-owned valuer Quotable Value. For the month of July, the average value jumped 14.1 percent from the same month a year earlier, ahead of June's 13.5 percent gain. The country's housing mar...

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