New Zealand's property market strong
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New Zealand’s housing market remains buoyant, with economic growth healthy. During the year to end-July 2013, the nationwide median house price rose by 6.65% to NZ$385,000 (US$310,322), according to the Real Estate Institute of New Zealand (REINZ).
All the country’s twelve regions had house price rises during the year to July 2013. Nelson/Marlborough registered the biggest house price increase, with a 14.6% y-o-y rise in July 2013. It was followed by Central Otago Lakes (13.8%), Taranaki (13.2%), Auckland (10.4%), Otago (8.4%), Caterbury/Westland (7.5%), and Wellington (6.8%).
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