House prices still down 11.2%, but ship is slowly turning

House prices still down 11.2%, but ship is slowly turning
Queenstown-Lakes' median pricing bounced back last month. (Image: BusinessDesk)
Brent Melville
The Real Estate Institute of New Zealand's house price index was down 11.2% year-on-year in May, although there were pockets of recovery with listings also showing a modest improvement.The index, based on sales reports across the institute's 17,000 professional members, is down 18% nationally from the November 2021 price peak, although still up 5.4% over the past five years.Listings were also up 3% from the prior month, at 7,359 homes, but overall remained down 18.1% on May 2022.Institute chief executive Jen Baird said the glimmers of a...

More Property

Triple Connection faces liquidation
Property

Triple Connection faces liquidation

The debt collector says the company "don't pay their bills".

Gregor Thompson 13 Dec 2024
Beachlands South development appeals settled
Property

Beachlands South development appeals settled

Appeals challenging the approval of a plan change for the Beachlands South development have been settled, paving the way for the multi-billion dollar project to proceed.“The success of negotiating a sensible outcome means that the development process can now move forward with the...

Staff reporters 11 Dec 2024
Winton 'stands to gain millions': MP
Property

Winton 'stands to gain millions': MP

The proposed fast-tracking of Sunfield is 'cronyism', local MP claims.

Maria Slade 11 Dec 2024
Olliver avoids bankruptcy – for now
Property

Olliver avoids bankruptcy – for now

A bid by BNZ to bankrupt the developer has been adjourned until February.

Maria Slade 10 Dec 2024