Another month of slumping New Zealand house prices will do little to bolster the hopes of first home buyers under strain from sharp increases in living costs and interest rates, analysts say.
The national average home value was 13.3% lower in April than in the same month of 2022 and sits at NZ$902,501, according to figures from the valuation company QV. But the pace of the market’s drop has slowed since the start of the year, and property prices are still 22% higher than they were before the pandemic.
