NZ house sales fall in August on subdued listings, looming election

Thu, 11 Sep 2014

By Paul McBeth Sept. 12 (BusinessDesk) - New Zealand house sales fell in August as a lack of listings compounded the chilling effects of rising interest rates and mortgage loan restrictions, and as the upcoming general election adds another uncertainty for buyers. The number of houses sold fell 16 percent to 5,481 in August from the same month a year earlier, and were down 7 percent from July, according to Real Estate Institute of New Zealand figures. The national median sale price was $420,000 in August, up from $390,000 a year earlier,...

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