New Zealand’s property market buoyant
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Residential property prices in New Zealand have continued to rise in the third quarter of 2012. The national housing median price rose by 6% to NZ$371,000 (US$304,168) during the year to September 2012, according to the Real Estate Institute of New Zealand (REINZ).
Locally, Southland registered the biggest annual house price increase, with a 17% year-on-year (y-o-y) rise in September 2012. Districts which also recorded strong annual house price rises include Central Otago Lakes (14.4%), Auckland (8.4%), and Nelson/Marlborough (8.3%).
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