NZ house values up 2.7%, Sydney prices fall 14%

PHOTO: Australia VS New Zealand

While Sydney house prices slide further to a 14 per cent two-year low, New Zealand’s values holding up and only marginally decreasing in Auckland.

Quotable Value today released its house price index showing a 2.7 per cent annual national house value rise, although Auckland values fell 1.5 per cent but CoreLogic head of research Nick Goodall said it was important to remember how different the two markets are.

“Apartments in Australia have seen significant construction growth but that hasn’t happened here, not to the same level. In Auckland, we’ve been building many more houses than apartments although we’ve only just started to see more consents for apartments outstrip houses.

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