Wellington housing valuations have taken a dive, with no suburb unscathed. 

QV valuations show house values have fallen 24.4 percent since 2021, with the average house value now sitting just under $1.1 million.

Auckland valuations are expected to show little movement since 2021. 

City Councillor Ben McNulty says it won't change rates bills much.

"The council has decided it needs 13 percent more money from rate-payers to run the city for next year, which means rates have to go up to meet that amount."

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Wellington housing valuations have taken a dive, with no suburb unscathed.&nbsp;
QV valuations show house values have fallen 24.4 percent since 2021, with the average house value now sitting just under $1.1 million.
Auckland valuations are expected to show little movement since 2021.&nbsp;
City Councillor Ben McNulty says it won't change rates bills much.
"The council has decided it needs 13 percent more money from rate-payers to run the city for next year, which means rates have to go up to meet that amount."
LISTEN ABOVE

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Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

Best of Business

Ben McNulty: Wellington City Councillor reveals rates bill unlikely to change as housing valuations dip

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/7c8d6536-6d7f-44bb-b558-b27a00564d67/transcript