Median prices for residential property across New Zealand increased from NZ$635,000 in February last year to a record NZ$780,000. Photo: Xinhua
Median prices for residential property across New Zealand increased from NZ$635,000 in February last year to a record NZ$780,000. Photo: Xinhua
New Zealand

Kiwis are behind New Zealand’s runaway house prices, not buyers from China or Singapore

  • Ultra-low interest rates and post-pandemic demand have pushed house prices up 23 per cent in the past year, prompting new regulation to curb speculation
  • While buyers from Japan, Singapore and the Philippines are keen, most supply is being snapped up by New Zealanders owning multiple properties

Median prices for residential property across New Zealand increased from NZ$635,000 in February last year to a record NZ$780,000. Photo: Xinhua
Median prices for residential property across New Zealand increased from NZ$635,000 in February last year to a record NZ$780,000. Photo: Xinhua
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