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%:
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