NZ median house price rises to record in October, sales volumes dented by LVR restrictions

Mon, 11 Nov 2013

By Tina Morrison Nov 12 (BusinessDesk) – New Zealand’s median house price rose 1.9 percent to a record in October, although sale volumes were dented as Reserve Bank lending restrictions began to bite. The median sale price rose $7,525 to a record $407,525 in October from September, and the price is 7.2 percent ahead of the year earlier month, according to the Real Estate Institute of New Zealand. The number of houses sold last month rose 0.9 percent to 6,778 from September, up 2.1 percent from the same month in 2012. On a seasonally adjusted...

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