New zealand: house sales up, christchurch recovers

Two sets of house sale figures out today show property prices have risen in the last year and sales activity increased last month.

Real Estate Institute of New Zealand data showed house sales shot up 37 per cent last month nationwide, making it the best February for the residential property market since 2008.

There were 1666 more houses sold last month than at the same time a year earlier, but prices were flat for the third month in a row, the REINZ said.

Nationally the median house price was $355,000, unchanged since November but up 1.4 per cent, or $5000, from February last year.

Source: Stuff.co.nz