House prices in New Zealand start to drop

October 17, 2024

Share to Google Classroom

House values in New Zealand continue to decline, with Wellington seeing the sharpest drop, according to the latest report from Quotable Value (QV).

In September, home values decreased by 0.4%, and by 1.6% over the past three months. The national average house price now stands at $901,920, which is slightly higher than last year.

Wellington’s house prices fell by 3.2% in the last quarter, double the national average. In contrast, other cities like Auckland, Christchurch, and Hamilton experienced slower declines. QV’s James Wilson noted that while interest rates are dropping and more people are looking at homes, high borrowing costs and job concerns, especially in Wellington, are preventing real growth in the market.

Despite some optimism, conditions remain challenging for buyers and sellers across the country.

Article written by Milli Banbury

This article was written using AI as an assistive tool for research, writing, and proofreading.
The te reo Māori version of this article was translated with AI assistance. While care has been taken to keep it accurate, if you spot anything that doesn't read quite right, please let us know

Learning Options

Recall Questions

Thinking questions

Digital Thinking

Learning Options

Recall Questions

Thinking questions

Digital Thinking

On Monday, Room 8 began preparing for their three-day camp at Tongariro National Park. The class checked sleeping bags, packed food boxes, and reviewed safety rules for the hike. Some students were excited about the volcano views, while others were most interested in the night walk and the chance to see native plants.

By Wednesday, every group had a task. One team organised first-aid supplies, another labelled tents, and a third prepared maps for the walking tracks. Their teacher reminded them that the camp was not only about having fun. It was also a chance to learn how to work together, follow directions, and take responsibility in a new environment.

Which statement best expresses the main idea of the passage?

Room 8 packed carefully because the camp was going to be far from school. The students were most excited about seeing native plants at night. Room 8 prepared for camp while learning teamwork and responsibility. The teacher wanted the class to memorise safety rules before hiking.