The report considered New Zealand's house prices to be overvalued by a rating of 179 in its valuation index, with only Hong Kong rated higher at 203. New Zealand's house prices have been ranked the most overvalued in the developed world behind only Hong Kong. The report considered New Zealand's house prices to be overvalued by a rating of 179 in its valuation index, with only Hong Kong rated higher at 203. Canadian house prices were overvalued by a rating of 173, with Australia's rating sitting at 160. The report comes as New Zealand's median house prices increased 3.6% year-on-year in August to $549,000, according to the Real Estate Institute of NZ.

Source: Otago Daily Times September 14, 2018 22:41 UTC