NZ house sales fall in June, led by cheaper properties

Sun, 13 Jul 2014

By Suze Metherell July 14 (BusinessDesk) - New Zealand house sales fell in June from a year earlier, led by properties of $400,000 or less, indicating the Reserve Bank's restrictions on low-equity loans are curbing demand at the cheaper end of the market. Sales fell 6.1 percent in June from the same month of 2013 to 5,763 and were down 12.3 percent from May, according to the Real Estate Institute. The national median price rose $33,250, or 8.4 percent, in the year to $427,250 and was 0.6 percent lower than in May. The central bank in...

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