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'Bloodbath': NZ House prices falling faster, Real Estate Institute data shows
New Zealand’s house prices fell at a faster pace last month, new data shows, and prices in one part of Auckland dropped almost 13% compared to a year earlier. The Real Estate Institute has released its data from May, which shows that the national median house price was up just 2.4% in May compared to May 2021. That compares to an annual increase of 8.8% in April, and more than 30% at the peak of the market. House prices fell 4% month-on-month, a significant decline compared to the 1.7% fall the month before. The national median price in May was $840,000. Outside Auckland, the median price fell 3.3% between April ... (full story)
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The elites think we are stupid. They are in the main quite correct.