By Tracy Withers
Oct. 20 (Bloomberg) -- New Zealand's house prices fell 4.5 percent to an 18-month low in the second quarter, according to an index prepared by Quotable Value New Zealand Ltd., the government valuation agency.
The national house price index declined for a second straight quarter after falling 0.6 percent in the first quarter, the Wellington-based agency said in a report mailed to Bloomberg News. From a year earlier, prices fell 4.4 percent.
Prices in main urban areas fell 4.8 percent. Prices in Auckland, the most populous city, declined 4.6 percent.
To contact the reporter on this story: Tracy Withers in Wellington at twithers@bloomberg.net.
Monday, October 20, 2008
New Zealand's Second-Quarter House Prices Decline 4.5%
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