NZ property prices stable but experts predict tough months ahead due to slow sales and rising mortga

[Nicholas Wallwork]

Residential property prices in New Zealand were stable last month and there is an air of normality*returning to the market but prices could fall due to rising mortgage costs, according to analysts.

Sales numbers during February recovered from their lowest level in nearly two decades, but the*national median price stayed at $350,000, the same as the month before, the latest data from the*country's Real Estate Institute shows.

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