NZ house sales, prices rise in May amid early signs Auckland investors looking outside 'big smoke'

Thu, 11 Jun 2015

By Paul McBeth June 11 (BusinessDesk) - New Zealand house sales and median prices rose in May as Auckland continued to underpin activity, though there are early signs residential investors facing restrictions to borrow money to buy property in the country's biggest city may be looking elsewhere. The number of houses sold rose 22 percent to 7,989 in May from the same month a year earlier, and the median sale price gained 7 percent to $460,000, according to the Real Estate Institute. Auckland drove the national figures higher, with a 23 per...

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