The value of New Zealand homes is continuing to decline but the rate at which values are dropping is slowing. According to property data company CoreLogic's House Price Index, the average value of all New Zealand homes dropped by another $5,580 in November, falling to $958,622 from $964,202 in October. The average value on NZ homes has now declined by $84,639 since it peaked at $1,043,261 in March this year. The slide in values remains particularly severe in the Wellington Region where average values are now down by 15.9% compared to a year ago. Values in Lower Hutt have had the biggest fall in the entire country with average values down 19.4%.
:quality(70):focal(-5x-5:5x5)/cloudfront-ap-southeast-2.images.arcpublishing.com/tvnz/WSVK7JBGBRD6LKCZ4KNQD4CDGQ.png){kind=link}