This is the November data from the Real Estate Institute of New Zealand (REINZ)
House prices nationally:
- +0.3% m/m
- +3.5% y/y
Housing price growth slowed sharply over much of this year, but there have been signs of stabilisation, today's data another sign. There is renewed buying in the market ahead of regulatory and tax changes, also spurred by slightly lower mortgage rates and loosening of bank lending requirements (following changes to LVRs by the Reserve Bank). This small surge in interest is not expected to carry through too much into next year though.
