New Zealand’s housing market is reviving and getting more active. This supposition is supported by the recent data provided by REINZ. The current revival is connected with the RBNZ’s plans to limit mortgage lending.
The amount of sold housing units increased by 2.6% in September as compared to August. The figures indicate 6720 units. As compared to September 2012, it is a 18,9% increase. With a glance at seasonal correction, the indicator boosted by 4,6% and 14,1% respectively.
Housing prices also saw an increase in September. The average sales time also declined form 34 down to 31 days.
Forex.
According to Masterforex-V Academy, the New Zealand Dollar (also known as the Kiwi), seems to continue its mid-term trend. The experts indicate that NZDUSD is rallying within the scope of an upswing represented by a(C )/C of h12. At this point, the price is forming wave 3/C. The closest level of resistance is located at the local high 0.8434 and 0.8440/46. The current bullish move will be completed as soon as the price overcomes the bottom of the MF sloping channel and consolidates below 0.8373 (as shown below).
