Dwellings sold throughout New Zealand and median house prices climbed in December from a year earlier, the Real Estate Institute of New Zealand reported Wednesday.
Total home sales rose 3.5 percent year-over-year in December to 7,313. However, it dropped 9.1 percent from the preceding month.
On a seasonally adjusted basis, the number of sales rose 2.9 percent from November to December, indicating December sales were stronger than would normally be expected at that time of year, the agency said.
House prices grew 3.3 percent annually and by 1.2 percent monthly in December. Excluding Auckland, national median prices increased at a new record pace of 8.0 percent yearly and went up 1.1 percent on month. It was the fourth successive record median in 2015.
“This breadth of the improvement across New Zealand suggests that there is more is at play than just an Auckland ‘halo effect’, although that has contributed in the northern regions,” REINZ Chief Executive Colleen Milne, said.
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