New Zealand House Prices, Sales Decline, Institute Says
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An index of New Zealand house prices fell from a two-year high and sales declined in October, as Europe’s debt crisis and the Rugby World Cup sapped interest from prospective buyers.
The Real Estate Institute of New Zealand Inc.’s index of house prices fell 0.3 percent to 3,268.5 in October from 3,279.2 the previous month, according to an e-mailed statement released today. The number of sales dropped to 5,007 from 5,235 in September, the institute said.