New Zealand house prices edge higher in January: Reinz
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NEW Zealand house prices edged higher in January but high interest rates, lower borrowing capacity and reports about a possible recession were keeping homes on the market longer, the Real Estate Institute of New Zealand (Reinz) said on Tuesday (Feb 14).
Seasonally adjusted national median house prices values rose 0.2 per cent in January compared with the previous month, and were down 13.2 per cent from a year ago, according to Reinz.
Chief Executive Jen Baird said prices continued to ease but the pace of the decline was steadying and the market showed “glimpses of new life”.
“In seasonally adjusted terms, this month’s numbers show a January that performed better than expected,” Baird said. REUTERS
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