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flag New Zealand's average home value fell 0.3% in the June quarter, marking ongoing market cooling.

flag New Zealand's housing market saw a slight decline in the June quarter, with the average home value dropping 0.3% to $910,479. flag This marks a 0.6% decrease from last year and 14.5% below the 2021 peak. flag While Auckland, Wellington, and Dunedin reported declines, some regions like Queenstown and Invercargill saw growth. flag High stock levels and cautious buyer sentiment are impacting the market. flag Falling interest rates are easing affordability pressures, with possible OCR cuts expected. flag 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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