BUSINESS Median house prices across New Zealand hit new record

BUSINESS

Median house prices across New Zealand hit new record

Xinhua

12:50, November 14, 2019

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File photo: CGTN

WELLINGTON, Nov. 14 (Xinhua) -- Median house prices across New Zealand increased by 8.2 percent in October to a new record high of 607,500 New Zealand dollars (388,787 U.S. dollars), the Real Estate Institute of New Zealand (REINZ) said on Thursday.

It is the first time the median house price for the country has crept over the 600,000-New Zealand dollar mark, a REINZ report said.

Median house prices for New Zealand excluding Auckland increased by 8.6 percent to a new record high of 520,000 New Zealand dollars.

Median house prices in Auckland, New Zealand's largest city, increased by 0.8 percent to 868,000 New Zealand dollars.

REINZ Chief Executive Bindi Norwell said October was a strong month price wise, with record median prices recorded in six regions and a record equal in Canterbury in the South Island.

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