NZ home values rise at the fastest pace in 12 years in June, QV says

Tue, 05 Jul 2016

By Tina Morrison July 5 (BusinessDesk) - New Zealand residential property values increased at the fastest pace in 12 years in June, driven by strong demand. The average value of a New Zealand home rose 13.5 percent to $590,909 in June from a year earlier, ahead of May's 12.4 percent annual gain, and marking the fastest pace since 2004, according to state-owned valuer Quotable Value. New Zealand's housing market is being bolstered by record migration as more people compete for a limited supply of housing, while record low interest rate...

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