Days later, CoreLogic released its interactive Mapping the Market tool, which showed that house prices fell across 84% of New Zealand suburbs in the three months to August. Now Interest.co.nz’s David Chaston has published research calculating real inflation-adjusted house price declines across New Zealand. The median house price fell 5.9% in the year to August 2022. However, because inflation ran hot, real house prices nationally fell a hefty 16.5%:According to Chaston, “most of this impact has been since the start of 2022. Not only have house prices retreated since then, inflation has jumped to levels not seen in a generation or more”.

Source: The Guardian September 21, 2022 21:55 UTC