WELLINGTON, April 18 (Reuters) - New Zealand house
prices continued to fall on the prior month reflecting the
ongoing impacts of a weaker economic climate, the Real Estate
Institute of New Zealand (REINZ) said on Tuesday.
Seasonally adjusted median house values fell 2.2% in March
compared with the previous month, and were down 12.9% on March
2022, according to REINZ.
“There are clear signs that we are in the lower phase of the
cycle, but with nearly 6,000 properties sold, vendors who are
motivated to sell are meeting the market with more realistic
expectations on time frame and price,” said Jen Baird, chief
executive at REINZ.
(Reporting by Lucy Craymer
Editing by Chris Reese)
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