Login
ISCOVER
New Zealand house prices rose for the first time in six quarters yesterday, a sign that the property market is stabilising, Quotable Value (QV) national residential property indices has revealed.
Average prices gained 0.4 per cent in the last quarter, compared to the previous quarter when values fell 2.1 per cent.
To continue reading the rest of this article, please log in.
Looking for more benefits? Become a Premium Member.
Create free account to get unlimited news articles and more!
Looking for more benefits? Become a Premium Member.
Falling interest rates is said to be a key driver for stimulating demand in the housing sector.
The Reserve Bank of New Zealand (RBNZ) announced yesterday that there was room for interest rates to fall even further in the coming months.
Since July 2008, RBNZ governor Alan Bollard has cut the official cash rate 5.75 percentage points to a low of 2.5 per cent.
New Zealand Prime Minister John key is urging the country’s major banks to follow the Reserve Banks lead and lower home loan mortgage rates to encourage consumer demand.
