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The Guardian - AU

World

Eva Corlett in Wellington

New Zealand house prices continue to plunge, as national average falls below $1m

Nick Goodall New Zealand Interest Rates CoreLogic

Man working on housing construction site — New Zealand house prices fell 1.8% in August, double the rate of July. Photograph: Bloomberg/Getty Images

New Zealand’s property market has continued its slide, with the average house price falling below $1m for the first time in nearly a year.

Property analytics company CoreLogic released its latest house price index on Thursday, which shows that in August property values fell 1.8% nationally, double the 0.9% fall recorded in July.

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