NZ house values drop in August as winter cools appetites

Wed, 05 Sep 2018

By Sophie Boot Sept. 6 (BusinessDesk) - New Zealand house values shrank in August as the market cooled in winter, according to state-owned valuer Quotable Value. National residential property values dropped 1.6 percent in the three months through August to $672,504, although they were still 4.8 percent higher on an annual basis, QV said. That's a turnaround from the 1.6 percent gain in values for the three months through July, and slower annual increase than July's 6.4 percent. New Zealand's property market has been cooling since banks...

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