March 3, 2020 / 4:04 PM / a month ago

NZ's Feb house price growth picks up to 5.3% y/y - QV

WELLINGTON, March 4 (Reuters) - New Zealand house prices increased 5.3% year on year in February to an average value of NZ$722,475 ($452,414), government valuer Quotable Value (QV) said on Wednesday.

* Pace increased from 4.4% growth in January

* Average values rose 1.2% year on year in Auckland

* Feb data confirms strength returning to Auckland market, according to QV. ($1 = 1.5969 New Zealand dollars)

Reporting by Praveen Menon Editing by Shri Navaratnam

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