NZ house prices rise to new record as dwindling supply saps turnover

Wed, 10 Oct 2018

By Paul McBeth Oct. 11 (BusinessDesk) - New Zealand house prices rose to a record in September as a lack of listings led to fewer sales in the month and longer closing periods, the Real Estate Institute says. The REINZ house price index climbed 4 percent to 2,742 in September from a year earlier, a new peak for the property market. The institute said higher prices followed a lack of inventory with a dwindling number of listings through the winter months. Sales volumes fell to 5,506 in September, down 3 percent from a year earlier, and th...

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