SYDNEY (Reuters) – New Zealand house prices rose in February on growing buyer interest as vendors set realistic prices that matched market conditions, the Real Estate Institute of New Zealand (REINZ) said on Monday.
Seasonally adjusted median house prices nudged 1.7% higher from January, though they were down 0.6% from a year earlier, REINZ data showed. Seasonally adjusted national home sales surged 12% from January and 20.7% from February 2024.
REINZ Acting CEO Rowan Dixon said the data indicated growing stability in the market with attendance at open homes remaining strong and auction numbers comparable to that of the same period year ago.
“Sales have increased nationally year-on-year, and activity is ramping up … these are encouraging signs for a positive and confident market ahead,” Dixon said in a statement.
(Reporting by Renju Jose in Sydney; Editing by Shri Navaratnam)
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