New Zealand Property Downturn Appears to Be Near the Bottom

Read MoreNew Zealand’s residential housing price slump may be nearing its end, but experts are warning that there is still a period of uncertainty and volatility ahead.
The latest data from Quotable Value’s (QV) House Price Index showed that falling home prices have slowed for the second month in a row.
Over the three months to May, they decreased by 3.4 percent nationally, putting the average house value at just under $900,000. This is 13.7 percent lower than the same time last year and 20 percent higher than its pre-COVID level.
But Q30V operations manager, James Wilson, believes the market had yet to hit its trough as it would require a few more months of continued softening to conclusively make this claim….