HOUSE PRICES: DOWN
REINZ data shows the national median sale dropped 2.3 per cent year-on-year, from $799,000 to $781,000, and increased 2.1 per cent month-on-month from $765,000. For New Zealand, excluding Auckland, the median price declined slightly by 0.7 per cent year-on-year (only $5,000), from $700,000 to $695,000.
The median price increased 2.2 per cent compared to August 2024, up from $680,000. The total number of properties sold nationally dropped 1.1 per cent compared to September last year, down from 5,881 to 5,816. Compared to August 2024, sales counts declined 3.3 per cent, from 6,015 to 5,816.
OCR: DOWN
The Official Cash Rate has dropped 0.5 per cent to sit at 4.75 per cent and the Reserve Bank has indicated more cuts could come at its November meeting.
INTEREST RATES: DOWN
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