New Zealand house prices still declining

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New Zealand house prices still declining

STORY: New Zealand house prices still declining DATELINE: Jan. 19, 2023 LENGTH: 0:01:01 LOCATION: Wellington CATEGORY: ECONOMY SHOTLIST: 1 various of the New Zealand house market 2 various of banks STORYLINE: The Real Estate Institute of New Zealand's (REINZ) December 2022 figures showed that house prices are still declining, with properties taking longer to sell across New Zealand. REINZ Chief Executive Jen Baird said on Wednesday that New Zealand house prices continue to ease but the pace of the decline is slower, and the market has settled at its new pace. He said regional median house prices have decreased across the board except for Northland, which saw an increase of 3.3 percent, and Taranaki 5.1 percent. These were the only regions to see a rise in median price. Wellington is now into its 14th consecutive month of being in the bottom two ranked regions for the year-on-year House Price Index movements. Xinhua News Agency correspondents reporting from Wellington. (XHTV)

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