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

Every term, the school library creates a new display to encourage reading. This term, the librarians chose books about explorers, scientists, and inventors. They arranged the books by topic and added short cards that explained why each book was interesting. During lunch breaks, many students stopped to look at the display. Some students found a book they wanted to borrow straight away. The librarians hoped the display would help students discover books they might not have chosen before.

Which sentence would best fit at the end of the passage?

Students should always read quietly during assembly time. The display was painted bright orange by the caretaker on Monday. The library had no books left after the sports tournament. The display encouraged students to try books they had not noticed before.