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New Zealand house prices finally fall from dizzying heights - The Associated Press - en Español

AP News LogoAP News1 mo ago

New Zealand house prices finally fall from dizzying heights - The Associated Press - en Español

Quick Summary

Up until its peak last November, the New Zealand property market had been among the frothiest in the world.

The decline was more pronounced in the biggest city of Auckland, where prices fell 5.6%, and in the capital, Wellington, where prices fell 5.9%.

Olsen said he expected prices to continue declining through the rest of the year, although he thought an all-out crash was unlikely because he wasn’t seeing signs of a sudden acceleration in the declines.“This is just the other side of the rollercoaster starting to come back down, but we are actually still pretty high off the ground,” Olsen said.


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News Analysis

Category: Nation Politics

Topics: 2022 Rates Interest Fell Auckland Decline Olsen Zealand First Year Prices

Source Website Secure: Yes (HTTPS)

Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

News Source URL: apnews.com

Readership Location: United States

Published Date: 2022-08-11, 06:36:35

News Timezone: GMT -5:00

Language: English

Original Article Length: 541 words

Reading Duration: 4 minutes read

Compatibility: Desktop Web, Mobile Web, iOS App, Android App

News ID: 1539886

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AP News Logo

Name: AP News

Main Topics: NationPolitics

Official Website: apnews.com

Update Frequency: 187 posts per day

Last Update: 8h ago

Headquarters: United States

Coverage Areas: United States

Publication Owner: Independent Company

Publication Timezone: GMT -5:00

Languages Covered: English

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Publisher ID: #90

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