REINZ National Property Prices Have Risen Sharply By 28.7%

According to the latest data from the Real Estate Institute of New Zealand (REINZ), the national median property price continued to rise to 820,000 (New Zealand dollars, the same below) in June, a significant increase of 28.7% from 637,000 in the same period last year. Among them, the median property price in Auckland continued to rise from 920,000 in the same period last year to 1.15 million, an increase of 25% and a record high. Although New Zealand’s property prices have risen astonishingly, buyers’ desire to enter the market has not diminished. The overall property sales volume in June still rose by 6.2% year-on-year, reflecting the benefits even in the face of the winter’s off-season property market and the government’s earlier implementation of property market control measures. The weak factors still failed to cool down the hot local property market.

U.S. CPI In June Hits A New High In Nearly 13 Years

The US Consumer Price Index (CPI) continued to rise 5.4% year-on-year in June, higher than market expectations of 4.9%, and hit a new high in the past 13 years, with the previous value rising by 5%. On a monthly basis, the CPI rose by 0.9%, which was also much higher than market expectations of 0.5%. During the period, the core CPI, excluding food and energy, rose by 4.5% year-on-year, which was also higher than market expectations and the previous growth of 4% and 3.8%, respectively, and hit a new high in the past 30 years. Inflation in the United States has not yet shown signs of peaking, making the market linger on the Fed’s early tightening of monetary policy, offsetting the positive factors of strong corporate earnings performance, and increasing the volatility of the US dollar and US stocks in the short term.