House prices fell 2.9% in yr ended July, sales plummeted 36.7%

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Thu, 11 Aug 2022

House prices fell 2.9% in the year ended July nationwide and were down 10.8% from the November peak, according to the Real Estate Institute’s house price index.The number of sales sank 36.7% from 7,391 in July 2021 to 4,678 in July 2022Prices fell most in Wellington in the latest year, down 12.7%, followed by Auckland’s 7.1% drop, but rose 10.4% in Northland. However, sales in Northland were down 44%.Sales in Auckland were down 48.7% while sales in the rest of the country excluding Auckland were down 29.5%.“Real estate markets...

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