Sep
05
Auckland’s Average House Price Surges Over NZ$1 Million Mark
By-
Market squeezed by supply shortage, immigration and low rates
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RBNZ lending restrictions may be starting to curb demand
The average house price in Auckland, New Zealand’s largest city, has surged above NZ$1 million ($730,000) for the first time.
The price for the Auckland area, home to a third of New Zealand’s population, jumped 16 percent in August from a year earlier and 6.1 percent in the last three months to NZ$1.01 million, according to data published Tuesday by government property research agency Quotable Value. The city’s average price has risen 86 percent since 2007…
Auckland’s Average House Price Surges Over NZ$1 Million Mark
