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New Zealand's house prices increased in November from a year ago, while the volume of sales decreased notably, the Real Estate Institute of New Zealand reported Wednesday.
The national median house price index climbed 3.8 percent year-over-year to NZ$540,000 in November. Median prices increased 1.9 percent, month-on-month.
On a seasonally adjusted basis, national median prices rose 4.0 percent in November from a year ago.
In Auckland region, house prices climbed 0.6 annually and by 3.8 percent monthly in November.
Meanwhile, the volume of home sales fell sharply by 8.9 percent yearly in October. In Auckland alone, the number of sales plunged 16.5 percent.
Compared to October, the volume of sales surged 17.8 percent in November. On a seasonally adjusted basis, home sales registered a growth of 4.5 percent.
