NZ national median price up 10.9% year-on-year
- The number of sales for October 2016 fell of 9% on September & fell 14%y/y
Real Estate Institute of New Zealand (REINZ) spokesperson Bryan Thomson:
- The national sales volumes fell by 14% in October compared to the same time last year and the number of properties for sale as measured by realestate.co.nz has fallen by almost 7,400 over the past year
- Our data suggests that the impact of the revised LVR rules is having more of an effect on lower-priced sales compared to higher priced sales, with a surge in the percentage of sales over $1million and a noticeable decline in the number of sales below $400,000 compared to 12 months ago.
The big news from NZ is the earthquake: Earthquake of 7.8 magnitude hits New Zealand
- Reports of two deaths so far
- Evacuation of thousands ongoing
