Real Estate Institute of New Zealand data for June
Median house price
- +2.5% year-on-year in Auckland
- +11.4% year-on-year in the rest of the country
- The REINZ House Price Index (HPI) for June
- Auckland house prices have decreased slightly by -0.6% year-on-year but the rest of the country (excluding Auckland) showed growth of 9.2% year-on-year
Sales volumes across the country have continued to decline
- in Auckland they are down -33.2% for the year to June
- and nationally they're down -24.7% for the same period
The median number of days to sell a property nationally increased by 5 days - from 31 to 36 days in comparison to June 2016
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NZD dripping a little lower (barely).
The point of this data is that house price inflation is a concern of the Reserve Bank of New Zealand , a moderation in house price growth (and the other signs of a slowdown like volumes down and days on market higher) will be welcome at the bank and reduces pressures (what there are) to hike rates.
