Each week BusinessDesk and the NZ Herald’s Cooking the Books podcast tackles a different money problem. Today, it’s how to handle a falling property market, whether you’re an investor or first home buyer. Hosted by Frances Cook.
Slides at the park might be a bit of fun, but when it comes to the property market, the latest downward slide has probably not left many people laughing.
Real Estate Institute data shows sales are way down, 39 per cent year-on-year, while Auckland house prices have fallen 18 per cent to a new median value of $1.05 million.
The median sale price for New Zealand overall fell over the past year by 12 per cent to $790,000.