NZ house sales growth slow in August as RBNZ loan limits stifle supply

Mon, 16 Sep 2013

Sept. 16 (BusinessDesk) - New Zealand house sales growth slowed in August as the pending limits on low equity home loans kept sellers uncertain as to their impact on what’s been a bubbling market. The number of houses sold in August fell 3.4 percent to 6,548, for an annual gain of 8.5 percent in the same month a year earlier, according to the Real Estate Institute of New Zealand. That’s slowed from a peak annual pace of 33 percent in April. The median sale price rose $5,000 to $390,000 in August, and was up 5.5 percent from the same month in...

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