WELLINGTON, May 11 (Reuters) - New Zealand house prices
rose slightly in April as signs appear that the market is
improving, the Real Estate Institute of New Zealand (REINZ) said
on Thursday.
Seasonally adjusted median house values rose 1.7% in April
compared with the previous month, but were down 10.9% on April
2022, according to REINZ.
“Salespeople across the country are reporting glimpses of
green shoots in the market this month as first home buyers show
more interest after the Reserve Bank’s announced on the easing
of LVR restrictions,” said Jen Baird, chief executive at REINZ.
New Zealand's inflation is running at an annual 6.7%, off a
three-decade 7.3% peak hit in the second quarter last year, but
still at historically elevated levels and well beyond the top
end the central bank's 1%-3% target despite the most aggressive
policy tightening cycle in a quarter century.
(Editing by Robert Birsel)
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