NZ house prices hit new record; Auckland growth slows while other regions soar

Wed, 12 Oct 2016

By Tina Morrison Oct. 13 (BusinessDesk) - New Zealand's median house price hit a new record in September as Auckland's growth slowed while six regions hit all-time highs, according to the Real Estate Institute of New Zealand. The national median house price rose 6.3 percent to $515,000 in September from the same month a year earlier, ahead of the 5.8 percent pace in August, the institute said. Concern about New Zealand's bubbling housing market has prompted policymakers at the Reserve Bank to introduce tighter restrictions for highly-...

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