![]() ![]() ![]() The average house value across Auckland dropped 13.5% to $1,314,548 last month from $1,520,341 in March last year.ĬoreLogic chief property economist Kelvin Davidson says there are signs property values may be starting to flatten out. Within the Auckland region average values are now down more than $200,000 in central Auckland, the North Shore, Waitakere and Manukau compared to March last year. Wellington city has had the biggest drop in values from -$226,468 in the city’s central and southern suburbs to -$329,035 in the western suburbs. ![]() That is down $114,605, or 11%, since the peak in March last year. While modest for the month of April, it gives potential buyers new options, with total listings at month’s end being 4,684.Īverage home values nationally down by $114,600ĬoreLogic’s latest House Price Index shows the national average property value was $928,656 last month. “In spite of slow sales numbers new listings continue to reach the market, and in April 1,090 new properties were listed. “It means that buyers who are prepared to commit are buying properties comparable to where prices were at 24 months ago,” Thompson says. “Vendors are accepting that to make a sale they need to adjust their price expectations, but they are not prepared to take any price just to achieve a sale. “Based on the number of sales made in April, winter has come early for the Auckland housing market,” said Peter Thompson, managing director of Barfoot & Thompson. ![]()
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