Ross Tucker: Auckland Council Group CFO explains why Auckland home values have dropped
Auckland home values have fallen, down nine percent on CVs released in 2021.
New capital values are being released tomorrow for 630,000 properties, with inner-city suburbs taking a bigger hit.
Central Auckland areas - including Mount Eden and Maungakiekie - fell about 13 percent.
Auckland Council Group CFO, Ross Tucker, says a few reasons have driven the slump.
"We've seen apartments fall 12 percent, converted flats fall 12 percent as well - also, we're seeing some of the areas where there's a lot of development potential have bigger than average falls."
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