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)
