NZ property values rise at slowest annual pace in 13 months

Thu, 07 Aug 2014

By Paul McBeth Aug. 7 (BusinessDesk) - New Zealand property values rose at the slowest annual pace in 13 months in July as rising interest rates, restrictions on low-equity home loans and the onset of winter took the heat out of the housing market. Property values nationwide rose 7.6 percent in July from a year earlier, slowing from an 8 percent annual pace in June, according to state-owned valuer Quotable Value. That was the slowest annual increase since June last year. Sales volumes were between 15 percent and 25 percent lower than the...

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