9 Aug 2022

Average house price under $1mil last quarter - QV

From Morning Report, 7:27 am on 9 August 2022

There's good news for homebuyers in the latest QV House Price Index, which shows the national average house price in New Zealand has fallen under $1 million in the last quarter.

Wellington has been hardest hit, with house prices in the capital easing back 11 percent.

At the same time, of course, house buyers have to factor in rising interest rates, credit constraints and inflationary pressures.

QV manager of operations Paul McCorry spoke to Corin Dann.