NZ property values rise at 8.1 percent annual pace in July on demand in Auckland, Christchurch

Thu, 08 Aug 2013

By Tina Morrison Aug 8 (BusinessDesk) – New Zealand property values rose at an 8.1 percent annual pace last month, as demand continued to outstrip supply in Auckland and Christchurch, according to state valuer Quotable Value. Growth in property values accelerated from last month when they increased at a 7.6 percent annual rate, also driven by demand in the nation’s two largest cities. Values increased 3.1 percent in the three months ended July 31, up from a 2.8 percent quarterly pace in June, the agency said. “Values continue to rise, althou...

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