> ## Content Index
> Fetch the complete content index at: https://goodoil.news/llms.txt
> Use this file to discover other available public pages before exploring further.

# NZ property values drop again, but signs of stabilisation emerge
- URL: https://goodoil.news/nz-property-values-drop-again-but-signs-of-stabilisation-emerge/
- Published: 2025-01-03T10:12:50.000Z
- Updated: 2025-01-03T18:17:06.000Z
- Description: A "soggy" year for the housing market.
- Author: Centrist
- Tags: News

Summarised by [Centrist](http://centrist.nz/?ref=goodoil.news)

**Property values in New Zealand fell by 0.2% in December 2024, marking the ninth decline in the past ten months, according to CoreLogic.** 

**The national median house value now sits at about $804,000, nearly 4% lower than a year ago and down almost 18% from the post-COVID peak.**

CoreLogic’s chief property economist, Kelvin Davidson, described 2024 as a “soggy” year for the housing market. High mortgage rates and a weak labour market have driven declines, though a slowdown in the rate of drop suggests the market may be nearing its floor. “Firmer trends seem to be starting to emerge elsewhere,” Davidson noted, highlighting gains in Hamilton (1.0%), Tauranga (0.4%), and Dunedin (0.3%), alongside steady results in Christchurch.

However, Auckland (-0.4%) and Wellington (-0.8%) continue to experience downward pressure. Looking ahead, Davidson predicts a “relatively subdued upturn” in 2025, with property values expected to rise by around 5%. He attributed this to lower mortgage rates counterbalanced by a sluggish economy and credit restrictions.

Davidson concluded, “2025 could prove to be a year of conflicting forces for New Zealand’s housing market,” reflecting both potential recovery and persistent challenges.

[**Read more over at 1News**](https://www.1news.co.nz/2025/01/03/property-values-drop-for-ninth-month-in-the-past-10-corelogic/?ref=goodoil.news)

[***Subscribe to our free newsletter here***](https://centrist.nz/sign-up/?ref=goodoil.news)