New Zealand House Prices grew 15.5 % YoY in Dec 2020, following an increase of 10.7 % YoY in the previous quarter. New Zealand House Prices YoY Growth data is updated quarterly, available from Dec 1990 to Dec 2020, with an average growth rate of 5.8 %. The data reached an all-time high of 24.9 % in Dec 2003 and a record low of -9.1 % in Mar 2009. CEIC calculates House Prices Growth from quarterly House Price Index. The Reserve Bank of New Zealand provides House Price Index, calculated from Reserve Bank of New Zealand estimates, with base December 2003=1000.
"A few years ago, if you bought a property and sold it in the next three years, you’d done well if you broke even. Now, we’re seeing that you can buy a property and sell it six weeks later and make NZ$30,000 (US$21,100). It’s very much a seller’s market." said real estate professionals in New Zealand, "the sharp increase is mainly from domestic demand making this completely unprecedented never seen before in New Zealand".
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