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flag Auckland property values fell 9%, marking the biggest drop since 2008, amid a 5.8% rates hike.

flag Auckland residential property values have dropped by 9% according to new council valuations, the largest fall since the 2008 Global Financial Crisis. flag The decrease, based on market trends up to May 1, 2024, is most significant in central areas. flag Despite the drop, Auckland Council has approved a 5.8% increase in residential rates for the 2025/2026 fiscal year.

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