NZ house prices edge up in July; REINZ calls for looser LVR rules on sales slump

Thu, 10 Aug 2017

By Sophie Boot Aug. 11 (BusinessDesk) - New Zealand house prices increased in July, however, the Real Estate Institute still wants first-home buyers carved out from mortgage lending restrictions in the face of shrinking sales numbers. The REINZ house price index was unchanged in July from a month earlier and was up 1.2 percent from July 2016, the real estate agents group said. Excluding Auckland, house prices rose 7.5 percent from a year earlier, while in Auckland they were 2.1 percent lower. Nationwide sales volumes dropped 25 percent...

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