🔺 What to do when markets are at an all-time high? Find smart bargains, like these.See Undervalued Stocks

New Zealand house prices fall as credit conditions hurt -REINZ

Published 06/14/2022, 08:18 PM
Updated 06/14/2022, 08:20 PM
© Reuters. Residential houses can be seen along a road in a suburb of Auckland in New Zealand, June 24, 2017. REUTERS/David Gray

WELLINGTON (Reuters) - New Zealand's house prices fell in May as tighter credit conditions, higher mortgage rates and increased housing supply affected the market, the Real Estate Institute of New Zealand (REINZ) said on Wednesday.

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

The seasonally adjusted median nationwide house value fell 3.1% compared to the previous month but remained up 3.1% year on year, according to REINZ.

The number of residential property sales decreased 28.4% to 5,556 in May, from 7,758 in May 2021.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.