New Zealand’s best suburbs see price falls of $300,000
It’s no secret that the New Zealand property market has been on a downward track this past year, with house prices continuing to fall from late 2022. However, we’ve just received news that values in some of the wealthiest suburbs in New Zealand recorded a fall in value by (in some cases) up to $300,000.
New Zealand house prices fall creating a buyer’s market
House prices continued to fall in New Zealand towards the tail end of 2022, making it the largest year-on-year drop since 2008.
New Zealand house prices fall by 7.5%
The Real Estate Institute of New Zealand (REINZ) has just announced that house prices have declined 12.7% in Auckland, the country’s largest city year on year, while the rest of the country fell 7.5%.
