House prices reach new records
Latest data from the Real Estate Institute of New Zealand shows the national median house price reached a new record of $389,000 in December, up almost 10% from the previous year.
Home prices continued to show record declines in the first quarter, according to a report released by Standard & Poor's on Tuesday, with the data suggesting that the recent signs of stabilization in the housing market have not yet led to a turnaround in prices.