New Zealand home prices were flat in February compared with January but sales rose strongly on the month, data from Real Estate Institute of New Zealand shows.

REINZ said the national median home price in February was $NZ350,000, unchanged from January but up 6.1% compared with February a year earlier.

A total of 5029 homes were sold in February, compared with 3666 in January. However, the number was slightly lower than the 5228 sold in February a year earlier.

The Australian