New Zealand House Prices Rise

WELLINGTON (Reuters) – New Zealand house prices rose in the last month, indicating more confidence in the market, according to the Real Estate Institute of New Zealand (REINZ) on Thursday.

Seasonally adjusted median house prices in August increased 2.1% compared to July, but were down 0.6% from August 2023, as per REINZ data.

The number of houses sold nationally on a seasonally adjusted basis fell 2.4% from July and 0.5% from the previous year.

REINZ noted that its August 2024 figures showed signs of increased confidence, optimism, and activity compared to the previous year. Despite an overall slight decline in sales volume, several regions reported notable increases in activity.