New Zealand House Prices Edge Higher, While Buyers Stay Cautious

New Zealand house prices edged higher in February, though the property market remained broadly subdued with values still down on a year earlier and more than 17% below their 2022 peak.

The Home Value Index advanced 0.2% from January, when it slid 0.1%, property consultancy Cotality said Thursday in Wellington. The national median value in February was NZ$806,697 ($473,000) — 1.2% lower than 12 months ago.