New Zealand house prices rise in November as demand stable
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Residential houses can be seen along a road in a suburb of Auckland in New Zealand, June 24, 2017. Picture taken June 24, 2017. REUTERS/David Gray
WELLINGTON, Dec 16 (Reuters) - New Zealand home prices increased in November as underlying demand remained stable, the Real Estate Institute of New Zealand (REINZ) said on Tuesday.
Seasonally adjusted median house prices in November edged 1.2% higher from October and were up 2.3% on the previous year, REINZ data showed. National home sales, however, fell 4.6% from October and were down 5.7% compared with November 2024.
"Despite the slower sales pace, median prices have remained largely resilient, supported by a stable underlying demand," REINZ CEO Lizzy Ryley said in a statement.
(Reporting by Lucy Craymer; Editing by Jamie Freed)
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