New Zealand homes sales and prices ease in January

Published 02/14/2022, 03:09 PM
Updated 02/14/2022, 03:11 PM
© Reuters. FILE PHOTO: Residential houses can be seen along a road in a suburb of Auckland in New Zealand, June 24, 2017. REUTERS/David Gray

WELLINGTON (Reuters) - Compounding factors are influencing a decrease in house prices and sales activity in New Zealand, the Real Estate Institute of New Zealand (REINZ) said on Tuesday.

Median nationwide house values were down 2.2% in January compared to the previous month, according to REINZ.

© Reuters. FILE PHOTO: Residential houses can be seen along a road in a suburb of Auckland in New Zealand, June 24, 2017. REUTERS/David Gray

Seasonally adjusted nationwide median house prices ticked up slightly to 1.4% in January from December and were up 20.3% year on year, according to REINZ.

The number of residential property sales decreased 28.6% in January, from 5,135 in January 2021 to 3,665.

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