Categories: RealEstate

New Zealand House Prices, Sales Continue to Rise in May

The FINANCIAL — New Zealand’s house prices and the number of sales rose in May compared with April, according to Nasdaq.

The national median home price was 460,000 New Zealand dollars (US$324,000) in May, up NZ$5,000 from April and up NZ$ 30,000 from a year earlier, data from the Real Estate Institute of New Zealand showed on June 11.

Actual home sales totaled 7,989 dwellings, up 10.4% versus April and up 21.6% versus last May.


“Auckland continues to dominate the real estate market in terms of price movements, with an annual increase of just under 20% for the 12 months to May,” said Reinz Chief Executive Colleen Milne.

“The Reserve Bank’s recently announced loan to value ratio measures may have some slowing impact on the rate of price increase, but it would take some months for this to take effect. The inventory situation in Auckland remains very tight and the number of sales by auction continues at near record levels,” she added.



Published by

Recent Posts

Bank of America Study Finds 84% of Employers Now Say Offering Financial Wellness Tools Helps Increase Employee Retention

The FINANCIAL -- 97% of employers feel responsible for employee financial wellness, with 91% seeing…

22 hours ago

How Global South cities can work better: free course based on Oxford-led urban research

A new, free course ‘Shaping Urban Futures’, aimed at planners, policymakers and people with an…

22 hours ago

Discovery of new nanowire assembly process could enable more powerful computer chips

Researchers from Oxford University’s Department of Materials have developed a technique to precisely manipulate and…

22 hours ago

Face to face with ancient Egyptians

Realistic mummy portraits shed light on life, death in multicultural Roman era 2,000 years ago. Realistic…

23 hours ago

What makes us human? It’s all in the hips

New study shows how pelvis evolved for walking upright, allowing birth of offspring with larger…

23 hours ago

Genetic tests set to reduce burden of joint replacement surgery

A range of ground-breaking genetic tests could help predict whether joint replacements succeed or fail. These…

23 hours ago