PHOTO: BLOOMBERG[WELLINGTON] New Zealand house prices rose for the first time in six months in September as borrowing costs fell, but values remain lower than a year ago. Prices rose 0.1 per cent from August, when they dropped a revised 0.4 per cent, property consultancy Cotality said on Thursday (Oct 2) in Wellington, citing its home value index. The economy contracted a larger-than-expected 0.9 per cent in the three months to June, and the jobless rate is at a five-year high. Today’s report showed house prices slid 1.6 per cent in the five months to August. Davidson said that mortgage interest rates may have further to fall, which will be good news for borrowers who need to reprice when fixed-term arrangements roll over.