December 3, 2019 / 4:02 PM / 12 days ago

NZ house prices rise 3.3% y/y in November - QV

WELLINGTON, Dec 4 (Reuters) - New Zealand house prices rose an annual 3.3% in November to an average value of NZ$704,072, government valuer Quotable Value (QV) said on Wednesday.

* Pace increased from 2.8% growth the previous month.

* Property value dropped 1.2% year-on-year in the Auckland region.

* Shortage of listings and low interest rates are fuelling a pick-up in property value, according to QV.

Reporting by Charlotte Greenfield, Editing by Sherry Jacob-Phillips

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