New Zealand House Prices Rise, Sales Fall In June: REINZ – Markets Insider

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(RTTNews) – New Zealand’s house prices increased in June from a year ago, while the volume of sales plunged, the Real Estate Institute of New Zealand reported Thursday.

The national median house price index rose 5.8 percent year-over-year to NZ$529,000 in June. However, median prices dropped 1.0 percent, month-on-month.

On a seasonally adjusted basis, national median prices grew 6.3 percent in June from a year ago.

In Auckland region, house prices climbed 2.5 percent annually in June, while it declined 0.8 percent from the prior month.

Meanwhile, the volume of home sales slumped 24.7 percent yearly in June. In Auckland alone, the number of sales plunged 33.2 percent.

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