NZ house sales decline for 12th month in October, REINZ says

Thu, 13 Nov 2014

By Tina Morrison Nov. 13 (BusinessDesk) - New Zealand house sales declined for a 12th month in October, one year on from the introduction of Reserve Bank high-debt mortgage lending restrictions. The number of houses sold fell 2.4 percent to 6,608 in October from the same month a year earlier, the Real Estate Institute said in a statement. Sales rose 11.8 percent from September when activity slowed amid uncertainty in the lead up to that month's general election. The Reserve Bank introduced restrictions on low equity mortgage lending fr...

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