New Zealand’s overall home sales and median house prices increased in November from a year ago, the Real Estate Institute of New Zealand reported Thursday.
Total dwellings sold in November grew 8.5 percent year-over-year in November to 8,048. Compared with the previous month, house sales climbed by 2.7 percent.
On a seasonally adjusted basis, the number of sales fell 2.6 percent from October to November, indicating November sales were generally weaker than would normally be expected at this time of year, the agency said.
On the price front, house prices rose 0.8 percent annually in October, while it dropped 0.1 percent from the preceding month.
Excluding Auckland, national median prices increased at a new record pace of 4.2 percent yearly in October and up 1.4 percent on month.
“The Auckland market continues to be challenged by the lack of supply which is evident in the low number of sales for November and an increase, once again, in the median price,” REINZ Chief Executive Colleen Milne, said
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