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New Zealand's average home value fell 0.3% in the June quarter, marking ongoing market cooling.
New Zealand's housing market saw a slight decline in the June quarter, with the average home value dropping 0.3% to $910,479.
This marks a 0.6% decrease from last year and 14.5% below the 2021 peak.
While Auckland, Wellington, and Dunedin reported declines, some regions like Queenstown and Invercargill saw growth.
High stock levels and cautious buyer sentiment are impacting the market.
Falling interest rates are easing affordability pressures, with possible OCR cuts expected.
Asking prices on Trade Me Property fell 1.8% in June, reaching a nine-month low, with Auckland seeing the largest decline.
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El valor promedio de la vivienda de Nueva Zelanda cayó un 0,3% en el trimestre de junio, lo que marca el enfriamiento continuo del mercado.