House price rise slowing slightly
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The rate of rise in house prices is showing only very minor signs of slowing.
The Real Estate Institute s House Price Index, which measures the changing value of property in the market, rose 29.8 per cent in the year ended June compared with an annual rate of nearly 30 per cent in May.
The national median price rose a seasonally adjusted 28.7 per cent over the year earlier, to $820,000. Once more, we re seeing this story echoed by some very strong results in the REINZ House Price Index (HPI), which again reached a new high on the index, says REINZ chief executive Jen Baird.