NZ house price surge ... still on. Sales +41.7% y/y, prices +10.7% y/y

The surging New Zealand house prices continue.

REINZ data released:

• August home sales +41.7% y/y
• August median house prices +10% y/y
• Auckland median house prices +20.5% y/y

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Meanwhile at the RBNZ:

"Hey guys, I've got an idea, let's cut interest rates!"

(applause, cheers ...)