NZ property values rise more slowly in December as lending curbs bite

Tue, 10 Jan 2017

By Rebecca Howard Jan. 11 (BusinessDesk) – New Zealand residential property values continued to push higher in December but the rate slowed in some areas as tighter lending restrictions continue to bite. The average value of a New Zealand home rose 12.5 percent to $627,905 in December versus the same month a year earlier, data from state-owned valuer Quotable Value showed. Record migration and low interest rates have bolstered the country's housing market, prompting the central bank to tighten up lending rules to reduce the risk to the...

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