Wellington house price decline 'worst in world'

Wellington house price decline 'worst in world'
Wellington has seen house prices tank to below their registered valuations. (Image: Depositphotos)
Brent Melville
Wellington leads the list of worst performing cities in the world, with house prices down 9.5% over the past six months and eroded by 8.1% for the 12 months to June 2022, in a survey by global realtor Knight Frank.That puts New Zealand’s capital city in 45th and last place in Knight Frank’s latest prime global cities index, with four other Asian cities - Manila, Kuala Lumpur, Jakarta and Guangzhou - in the dog box.Those, alongside Frankfurt, have been the most affected by increasing mortgage rates, credit constraints and the weakeni...

More Property

Vector faces fresh complaint on unfair contract terms
Property

Vector faces fresh complaint on unfair contract terms

Vector faces more scrutiny over contract terms after Commerce Commission advice.

Vector ‘on notice’ for unfair contract terms; complainant now facing higher costs
Property

Vector ‘on notice’ for unfair contract terms; complainant now facing higher costs

A developer’s Fair Trading win against Vector feels like a loss.

Garth Bray 01 Jul 2025
Investore buys New Lynn Bunnings site for $43 million
Property

Investore buys New Lynn Bunnings site for $43 million

Investore Property has struck a deal to acquire the Bunnings complex in New Lynn, Auckland.The company told the market on Friday it had entered an unconditional agreement to acquire the property for $43 million.The 2.2-hectare site at 2–12 Titirangi Rd features an 11,000sq m buil...

Staff reporters 27 Jun 2025