NZ median house price passes $500,000 to new record, driven by regional gains

Tue, 14 Jun 2016

By Tina Morrison June 15 (BusinessDesk) - New Zealand's national house price gained to a record high in May, rising above $500,000 for the first time, as five regions hit all-time highs. The median national sale price jumped 10 percent to $506,000 in May from a year earlier, while the number of properties sold increased 14 percent to 9,075, according to the Real Estate Institute. New Zealand's housing market is on a tear, driven by record migration and low interest rates, particularly in Auckland, the country's largest city, where the...

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