By Tracy Withers
July 21 (Bloomberg) -- New Zealand's house prices fell 0.6 percent in the first quarter, according to an index prepared by Quotable Value New Zealand Ltd., the government valuation agency.
The national house price index declined for the first time since 2001 after gaining 0.4 percent in the fourth quarter, the Wellington-based agency said in a report mailed to Bloomberg News. From a year earlier, prices rose 2.8 percent.
Prices in main urban areas fell 1.2 percent. Prices in Auckland, the most populous city, declined 2.1 percent.
To contact the reporter on this story: Tracy Withers in Wellington at twithers@bloomberg.net.
Monday, July 21, 2008
New Zealand's First-Quarter House Prices Decline 0.6%
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