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New Zealand House Prices Rose in June Despite Pandemic

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07/13/2020 | 05:33pm EDT

WELLINGTON, New Zealand--New Zealand house prices rose for a 105th straight month in June despite economic damage from the pandemic.

The median house price rose 9.2% from a year earlier to 639,000 New Zealand dollars ($417,000), the country's real estate institute said Tuesday.

Prices could ease when measures supporting the economy such as government wage subsidies and mortgage repayment holidays end, the institute said.

Economists have predicted a 5.0% to 10% fall in house prices this year.

 

Write to Stephen Wright at stephen.wright@wsj.com

 

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