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26 May 2024 23:03
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      Home > News > Business

    House prices have fallen off a cliff's edge in the capital, creating panic for sellers

    House prices have fallen off a cliff's edge in the capital, creating panic for sellers


    Latest Real Estate Institute figures show median house prices in Wellington dropped 20.2 percent, leading the nation in a downwards trend.

    Estate Agents say sellers are finding it hard to watch their home's value plummet.

    Harcourts Wellington Chief Executive Marty Richie says the city's price drop is due to huge increases in years before -- but things are expected to level out soon.

    He says first-home buyers and even some investors were quite active coming into Christmas -- and people seem keen to get back into property.

    © 2024 Newstalk ZB, NZCity

     Other Business News
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     25 May: Respiratory illnesses like influenza are expected to peak earlier this year
     24 May: Wellington Water's chief executive says someone in the company had an inkling about a budget error
     24 May: Retailers are looking for certainty before next week's Budget
     24 May: A city in South Korea is offering small apartments for $11 a month. Why isn't Australia doing the same?
     Top Stories

    RUGBY RUGBY
    The Southern Steel are celebrating their second win of the ANZ Premiership netball season - leaping off the bottom of the ladder with a 47-43 win over the Mystics in Dunedin More...

    BUSINESS BUSINESS
    The Finance Minister is playing down any major surprises in this week's Budget More...


     Today's News

    		 Environment:
    Multiple fire crews put out a blaze at the back of a two-storey shop building in Auckland's Onehunga 21:56

     International:
    More than 670 people now feared dead following landslide in Papua New Guinea's highlands 21:36

     Environment:
    Emergency services are responding to a large fire at Onehunga in Auckland tonight 21:16

     Health & Safety:
    Second deadly fire in India kills six infants at children's hospital in Delhi 19:47

     Politics:
    Labour Party Leader Chris Hipkins says charter schools are the wrong way to address outlying students 18:57

     Tennis:
    The year's second tennis major - the French Open - gets underway tonight, with multiple major winners Andy Murray and Stan Wawrinka squaring off in the first round 18:37

     Rugby:
    The Southern Steel are celebrating their second win of the ANZ Premiership netball season - leaping off the bottom of the ladder with a 47-43 win over the Mystics in Dunedin 18:27

     Rugby League:
    The Warriors have again shuffled their side for tonight's NRL match against the Dolphins with fullback Taine Tuaupiki another game-day withdrawal 18:07

     Rugby:
    Finals footy awaits for the Highlanders, confirming their spot in the quarter-finals with a 39-3 romp over the Fijian Drua in Dunedin 17:27

     Business:
    The Finance Minister is playing down any major surprises in this week's Budget 17:27

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