January 17, 2018 / 8:08 PM / a year ago

NZ house prices rise 5.9 percent annually in December - REINZ

    WELLINGTON, Jan 18 (Reuters) - New Zealand house prices
posted solid growth in December though the number of sales
remained muted, the Real Estate Institute of New Zealand (REINZ)
said on Thursday.
    Nationwide, median house house values rose 1.7 percent
compared to the previous month on a seasonally adjusted basis,
according to REINZ. Prices were up 5.9 percent anually.
    The market had made a steady recovery in recent months after
an uncertain election period in the third quarter saw annual
growth slip below one percent in September. 
    Sales volumes still struggled in December, with the number
of properties sold decreasing 10.1 percent from the previous
year. Sales volumes had fallen throughout 2017 as the previous
two years of red-hot activity tapered off.

 (Reporting by Charlotte Greenfield; Editing by Catherine Evans)
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