Auckland house values have suffered their biggest decline since the Global Financial Crisis
Auckland house values have suffered their biggest decline since the Global Financial Crisis
1 May 2022
Figures from the OneRoof-Valocity House Value Index show the city's average property value fell two percent in the three months to the end of April.
Head of valuations at Valocity, James Wilson says the fear of missing out effect in Tamaki Makaurau has well and truly gone.
He says it's being replaced with fear of over paying, something typically seen at the end of a housing cycle ... but it's being made worse by rising interest rates.
Nationwide, the average property value was up just 0.5 percent over the quarter.
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