Quotable Value’s (QV) house price index reported that New Zealand house prices fell 5.4% nationally over the September quarter to be down 9.2% this calendar year. Interest rate rises, credit constraints, the increasing cost of living – it’s a sure-fire recipe for declining home values. CoreLogic’s New Zealand house price index also recorded a 4.1% decline over the September quarter – one of the largest falls on record since the Global Financial Crisis in 2008. New Zealand house prices are destined to continue falling. After recording one of the world’s largest house price booms over the pandemic, New Zealand is destined to experience one of the biggest busts.

Source: Otago Daily Times October 18, 2022 00:16 UTC