RBNZ takes gong as housing froth evaporates

Tuesday 12 August 2014

The Real Estate Institute of New Zealand (REINZ) has released its July house price results, which registered a third consecutive monthly fall in values, as well as another slowing in annual growth.

In the month of July, the national stratified median price fell by 0.7% to around $437,500. However, prices were up in each of the major capitals – i.e. up 3.5% in Christchurch, 2.1% in Wellington, and by 0.7% in Auckland. Over the quarter, prices fell by 2.2% nationally, with Wellington down 7.0%, Auckland down by 0.9%, and Christchurch down 0.7%:

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.