House prices show no sign of slowing down at the start of the 2021, RNZ reports. Data from Real Estate Institute New Zealand (REINZ) revealed the median price for January rose a seasonally adjusted 2 percent on the month before. REINZ’s house price index hit a record high, with the annual gain more than 19 percent – the biggest annual rise since mid-2004. The national median price was $730,300. According to REINZ chief executive Bindi Norwell, prices typically eased in January as the residential property market slowed over the holiday season.
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