Annual house price decline in December steady at 13.7%, sales down 39%

Wed, 18 Jan 2023

House prices fell another 1.7% in the month of December 2022 from November but the annual decline of 13.7% in December was unchanged from November, according to the Real Estate Institute’s national house price index.Perhaps a better gauge of how depressed the housing market was at the end of 2022 is that sales in December were down 39% compared with a year earlier, following November’s 36.1% annual volume decline – prices peaked in November 2021.In the regions, Wellington led the price declines, down 21.6% from December 2021,...

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