Photo: Supplied/ Dan Bailey
Central Wellington has the cheapest homes in the country, property data firm Cotality says, but Newmarket has had the biggest fall in values over the past five years.
It has released its end-of-year data, which it said showed a year of stagnation, with lower mortgage rates helping improve sales volumes but a sluggish economy and weak labour market keeping values down.
Chief property economist Kelvin Davidson said despite an extended "flat patch" for values, there had been activity happening.
"First-home buyers have remained very strong, hovering as high as 28 percent to 29 percent of overall purchasing activity, while 2025 has also seen a comeback by mortgaged multiple pro
Continue Reading on RNZ
This preview shows approximately 15% of the article. Read the full story on the publisher's website to support quality journalism.