Radio NZ reports that house prices have fallen yet again as higher interest rates continue to limit demand for properties. CoreLogic's latest house price index showed property values fell 1.2 percent in June, down 10.6 percent from a year ago.
|Notes on the CoreLogic data:
|1. The information included in the table is based on the monthly property value index. This index is calculated based on the sales data entered into CoreLogic's system in the previous 3 month period. For example, information for the period ending June will be calculated based on sales entered between April 1 and June 30.
|2. The average current value is the average (mean) value of all developed residential properties in the area based on the latest index. It is not an average or median sales price, as both of those only measure what happens to have sold in the period.
|3. The percentage change over three months, twelve months and since the 2021/2022 market peak are based on the change in the property value index between that time and the current.
|4. Any of the statistical data shown in italics are calculated based on a sample set of data that is less than the recommended minimum. These results should be used with caution. Those showing N/A had too few sales to generate an index
See an edited version of the index here