WELLINGTON, March 14 (Reuters) - New Zealand house
prices continued to fall on the prior month as ongoing headwinds
and the impact of Cyclone Gabrielle continues to weigh, the Real
Estate Institute of New Zealand (REINZ) said on Tuesday.
Seasonally adjusted median house values fell 1.7% in
February compared with the previous month, and were down 13.9%
on February 2022, according to REINZ.
"Rising interest rates, increased cost of living and
inability to secure finance are still having an impact on
buyers, but REINZ members are telling of returned activity at
open homes in areas that weren’t as impacted by Cyclone
Gabrielle,” said Jen Baird, chief executive at REINZ.
(Reporting by Lucy Craymer)
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