NZ home values rise at slowest annual pace in six months in November

Wed, 30 Nov 2016

By Tina Morrison Dec. 1 (BusinessDesk) - New Zealand residential property values increased at the slowest annual pace in six months in November, as tougher lending restrictions constrain buyers. The average value of a New Zealand home rose 12 percent to $624,675 in November from a year earlier, the weakest annual growth rate since May, according to state-owned valuer Quotable Value. New Zealand's housing market has been on a tear, bolstered by record migration and low interest rates, prompting the Reserve Bank to tighten up lending rul...

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