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New Zealand's house prices continued to increase in January, while the volume of sales grew for the first time in nineteen months, the Real Estate Institute of New Zealand reported Thursday.
The national median house price index climbed 7.1 percent year-over-year to NZ$520,000 in January. However, median prices decreased 5.5 percent, month-on-month.
On a seasonally adjusted basis, national median prices rose 7.0 percent in January from a year ago.
In Auckland region, house prices dropped 1.2 annually and by 4.8 percent monthly in January.
The volume of home sales increased 2.7 percent yearly in January, reversing a 10.1 percent plunge in December. In Auckland, the number of sales rose 0.9 percent.
Compared to December, the volume of sales tumbled 28.2 percent at the start of the year.
