House prices in New Zealand start to drop

October 17, 2024

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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 and writing.

Learning Options

Recall Questions

Thinking questions

Digital Thinking

Learning Options

Recall Questions

Thinking questions

Digital Thinking

At Hauraki Intermediate, students use tablets in some lessons and notebooks in others. In science, they research facts quickly and record results in digital tables. In English, however, many still prefer to plan ideas by hand before typing them up. Teachers say technology is useful when it helps students learn more clearly, but it should not replace thinking or discussion. The school has found that the best lessons are those where students use the right tool for the task. In other words, tablets are helpful, but learning works best when they are part of a balanced approach.

What is the main idea of this passage?

Students at Hauraki Intermediate use tablets in science lessons. Notebooks are better than tablets in English lessons. Teachers prefer students to type all of their work. Technology is useful at school when it is used as part of a balanced approach to learning.