House prices in New Zealand are still decreasing, but at a slower rate than before. The average value of homes has fallen by 1.8% in the past three m
House prices in New Zealand are still decreasing, but at a slower rate than before. The average value of homes has fallen by 1.8% in the past three months, compared to a decline of 3.4% in May. This decline in value is seen in most urban areas, except for Hastings and Dunedin, which have experienced slight growth. Auckland, Wellington, and Tauranga have seen larger declines in home values. The market is currently driven by first-home buyers, who are more active than investors and other buyers. Low sales volumes are causing some volatility in housing metrics, but overall, the rate of value falls is stabilizing. Some real estate agents have reported an increase in investor activity in certain locations, indicating a potential trend of investors re-entering the market.
