Home prices divergent in New Zealand

The two-tier real estate market continued in New Zealand as five regions saw record prices, with Auckland and Canterbury, the two densely populated areas, witnessing price falls, according to the latest data released from the Real Estate Institute of New Zealand on Thursday. January has pointed to a twotiered real estate market continuing with 14 out of 16 regions experiencing annual increases in the median price for residential properties, while Auckland and Canterbury saw prices fall, REINZ statistics showed.