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New Zealand Home Prices Rise in September

Real Estate Institute of New Zealand said the national median home price in September was up 4.7% from August

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Houses stand in the suburb of Mount Wellington in Auckland, New Zealand.

Brendon O
Houses stand in the suburb of Mount Wellington in Auckland, New Zealand.
Brendon O

WELLINGTON—New Zealand home prices rose in September but sales were weaker, data from the Real Estate Institute of New Zealand showed Thursday.

The REINZ said the national median home price in September was NZ$515,000 ($364,194), up 4.7% from the previous month, and 6.3% higher from a year ago.

Home sales totaled 7,397 nationally in September down 2% from the prior month, and down 10% from the same month a year ago.

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House prices outside Auckland hit a record median high of NZ$400,000 in September, it said.

The median house price in Auckland, the country’s biggest city, has risen 7% year-on-year to NZ$825,000, although it dipped 2% versus August 2016.

"The real-estate market in New Zealand appears to be in something of a two-speed mode at present, with Auckland pausing for breath during a wet school holiday period and ahead of likely new Spring growth," said Bryan Thomson, a spokesperson for REINZ.

Write to James Glynn at james.glynn@wsj.com