WELLINGTON (Reuters) – New Zealand house prices were unchanged in December, but more broadly activity is improving with sales increasing and houses selling more quickly, the Real Estate Institute of New Zealand (REINZ) said on Thursday.
While seasonally adjusted median house prices were unchanged on November figures, they were down 0.7% from a year earlier, REINZ data showed.
Seasonally adjusted national home sales volumes rose 0.3% from November and were up from 20.4% from December 2022.
REINZ Chief Executive Jen Baird said in a statement that December showed the trend of steady improvement in property market activity has set in thanks to interest rates stabilizing, the new government’s announcing more details of its plans, and the arrival of the more active months in the property cycle.
(Reporting by Lucy Craymer; Editing by Leslie Adler)