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The Real Estate Institute of New Zealand (REINZ) has released its August house price results, which registered a rebound in values following three consecutive months of fall, but another slowing in annual growth.
In the month of August, the national stratified median price rose by 1.1% to around $442,000. Prices were up in two of the major capitals – i.e. up 5.5% in Wellington and by 0.4% in Auckland – but fell by 0.8% in Christchurch. Over the quarter, prices fell were dead flat (0% change) nationally, although rises were recorded in each of the major capitals.
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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.