NZ house prices gain 11% in October, driven by sales of higher value homes

Sun, 13 Nov 2016

By Tina Morrison Nov. 14 (BusinessDesk) - New Zealand's median house price increased 11 percent in October, as tougher lending rules failed to dampen sales of higher value properties, according to the Real Estate Institute of New Zealand. The national median house price rose to $510,000 in October from $460,000 a year earlier, the institute said. The price weakened from the September median level of $515,000. There were 6,727 national sales in October, down 14 percent from a year earlier and 9 percent lower than September. Concern abou...

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