Annual house price growth slumps to 3.7%

Staff reporters
Wed, 15 Jun 2022

Annual house price inflation slowed to just 3.7% in May with prices down 1.6% in the month and down 5.6% in the three months ended May.The Real Estate Institute's house price index (HPI) data showed the biggest monthly fall was in Wellington, down 2.8%, taking that city’s annual price drop to 6.9% while Auckland’s annual price was up 0.6% on a year earlier.The number of properties sold was down 28.4% to 5,556 in the latest month from 7,758 in May last year with Auckland sales down 38.3% to 1,761, the lowest sales count for a May...

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