wellington new zealandnew zealand home values continued to rise in march although at a more moderate pace than the previous two years as high asking prices interest rate increases and lending curbs deterred some buyers the median national sale price of 885000 new zealand dollars 601000 was 79 higher than a year earlier and up 06 from february the new zealand real estate institute said thursday the institutes broad home price index rose 90 from a year earlier compared with increases of greater than 30 last year when demand for housing was spurred by stimulus in response to the pandemic tighter lending criteria and recent increases to interest rates from a record low continue to reduce the pool of buyers who are willing and able to pay market prices the institute said