New Zealand Sees Record-Low House Sales as Buyers Step Away
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New Zealand house sales fell to a record low in the three months through September as a slump in prices spooked buyers.
Sales of residential and lifestyle properties fell to 14,966 in the third quarter last year, which was the lowest since records began in 1990, according to CoreLogic New Zealand data published by the Reserve Bank Thursday in Wellington. The volume is below the previous low of 15,579 seen during the financial crisis of 2008.