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13 Nov 2014
NZ house prices ticking up in Oct
FXStreet (Bali) - New Zealand house prices kept rising in October, coming at 1.4% record high on a monthly basis, while the number of sales saw some healthy numbers too, according to the Real Estate Institute of New Zealand (REINZ).
Auckland and Christchurch continued at the forefront of cities driving higher prices, with mortgage lending restrictions introduced by the Reserve Bank of New Zealand over a year ago still working its way through the housing market, having cooled down price increases.
As Reuters reports: "Many economists anticipate easing price risks will allow the RBNZ to keep its official cash rate at 3.5 percent until later in 2015, when it is expected to resume its tightening cycle which began earlier this year."
Auckland and Christchurch continued at the forefront of cities driving higher prices, with mortgage lending restrictions introduced by the Reserve Bank of New Zealand over a year ago still working its way through the housing market, having cooled down price increases.
As Reuters reports: "Many economists anticipate easing price risks will allow the RBNZ to keep its official cash rate at 3.5 percent until later in 2015, when it is expected to resume its tightening cycle which began earlier this year."