NZ property values accelerate at 8.9 percent annual pace in Oct, lending limits having limited impact, QV says

Wed, 06 Nov 2013

By Tina Morrison Nov. 7 (BusinessDesk) – New Zealand property values rose at an 8.9 percent annual pace in October, driven by a shortage of houses in Auckland and Christchurch, showing a limited impact from bank lending restrictions introduced at the start of the month, according to state valuer Quotable Value. Property values in the Auckland area rose at a 14.5 percent annual pace while Christchurch values are 11.8 percent above last year, the agency said. The national pace accelerated from 8.4 percent annual growth in September. “As has be...

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