Recent house price boom is down to interest rates, as Kiwis jumped to buy better homes while rock-bottom rates were around. The average national price was down another 0.6% to $902,501 in April, according to the property valuation company’s latest figures. The city’s three-month rolling average also increased from an average decline of 1.2% to 3.7%, and the average price was down 10% in the year to April. STUFF The national average house price was down another 0.6% to $902,501 last month. Petersen said while credit constraints and high interest rates continued to have a stranglehold on the market, there were some signs the market could be approaching equilibrium.
