PHOTO: Auckland
House prices have fallen in Auckland and growth is slowing across the country, according to a new report.
The latest QV figures show annual growth dropped from 3.5 percent to 2 percent compared to the same time in 2018.
- House prices going up two-and-a-half times the rate of inflation
- Average New Zealand house price reaches all-time high
- Auckland sees biggest property price drop in five years
General Manager David Nagel told Newshub it’s expected for the middle of winter.
“Listings are down and there’s a real shortage of good quality listings, we’ve not seen a lot of transactions.”
The rate of quarterly growth has dropped to 0.1 percent.
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