House prices going backwards at rate of $10k a month

In Auckland, asking prices have tumbled by 9.8% over the past eight months. (Image: BusinessDesk)

Mon, 03 Oct 2022

Homeowners have lost an average of $10,000 a month in property value over the past eight months and will likely continue to do so until at least next year.The latest data from listing site realestate.co.nz shows the average national asking price dropped from a peak of $992,659 in January 2022, to $921,187 last month, down 7.2% nationally.The drop has been even more acutely felt in the expensive Auckland market, where asking prices, a measure of the likely selling price using the mid-80% range of pricing, have tumbled by 9.8% over the past eight...

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