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Owen Vaughan: OneRoof Editor on latest data suggesting ‘possible floor approaching’ in plummeting house prices
The tide may be turning on tumbling property values after three analysts all judged fresh real estate data shows a “possible floor in [house] prices is approaching”.
New reports from OneRoof, CoreLogic and ANZ Bank point to potentially better times ahead for homeowners, despite interest rates likely staying higher for longer.
Today’s latest OneRoof-Valocity House Index showed New Zealand’s average property value fell 2.3 per cent ($22,000) to $950,000 in the three months to the end of May, as successive interest rate rises put downward pressure on prices.
Auckland’s average value fell a…
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