PHOTO: REINZ.
The REINZ House Price Index for New Zealand, which measures the changing value of property in the market, increased 3.9% yearon-year to 2,692 – a new record high. The HPI for New Zealand excluding Auckland increased 6.9% from February 2017 to a new high of 2,524 and Auckland’s HPI increased 1.1% for the same period.
The REINZ HPI showed that 11 out of 12 regions experienced an increase in their HPI and 9 regions saw a new high in February, highlighting the strength of the property market.
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