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New Zealand Housing Market: Prices Plummet, Recovery Ahead

9/1/2025

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Summary

Story summary

Wellington's house prices are approximately 30% below peak, with recovery expected after 2030.
Auckland's average property value decreased nearly 3% to $1.26 million, the lowest in over four years.
Kaitaia's property values rose by 7.8%, while Wellington Central saw a 13.3% annual decline.
The number of affordable suburbs under $1 million has significantly increased in Auckland and Wellington.

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Story summary

Wellington's house prices are approximately 30% below peak, with recovery expected after 2030.
Auckland's average property value decreased nearly 3% to $1.26 million, the lowest in over four years.
Kaitaia's property values rose by 7.8%, while Wellington Central saw a 13.3% annual decline.
The number of affordable suburbs under $1 million has significantly increased in Auckland and Wellington.