New Zealand August House Prices Down 2.8% On Year Vs. 5% Fall In July

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Monday, Quotable Value announced that New Zealand's house price index fell at a slower yearly rate of 2.8% in August compared to the 5% decline in the previous month.

The government agency reported that prices were up 1.9% since April, and the national average sale price also increased to NZ$385,426 in August from NZ$382,758 in July.

Commenting on the report, QV Valuation Manager, Glenda Whitehead, said "The housing market is strongly driven by confidence, and that appears to be returning to the wider market".

(Market News Provided by RTTNews)