New Zealand House Prices Rise, Sales Fall In December


New Zealand's house prices increased in December from a year ago, while the volume of sales decreased notably, the Real Estate Institute of New Zealand reported Thursday.

The national median house price index climbed 5.8 percent year-over-year to NZ$550,000 in December. Median prices increased 1.9 percent, month-on-month.

On a seasonally adjusted basis, national median prices grew 5.9 percent in December from a year ago.

In Auckland region, house prices rose 1.8 annually in December, while it dropped 1.1 percent from November.

Meanwhile, the volume of home sales plunged 10.1 percent yearly in November. In Auckland alone, the number of sales declined 6.4 percent.

Compared to November, the volume of sales tumbled 16.2 percent in December. On a seasonally adjusted basis, home sales registered an increase of 0.3 percent.