The housing market downturn appears to have reached a significant milestone with prices in Auckland's leafy inner suburbs and all of the Wellington Region now lower than they were a year ago. The Real Estate Institute of New Zealand's House Price Index (HPI) declined by 1.9% nationally in April and is now down 3.5% from where it was at the start of this year. Of the 24 districts around the country tracked by the HPI, prices were lower in 23 of them in April than they were at the start of this year. In the Wellington Region the HPI was 6.2% lower in April than it was in January with the declines over that period ranging from 3.5% in Porirua to 8.7% in Wellington City. REINZ House Price Index - April 2022

Source: Stuff May 13, 2022 06:56 UTC