Auckland home values have fallen, down nine percent on CVs released in 2021.

New capital values are being released tomorrow for 630,000 properties, with inner-city suburbs taking a bigger hit.

Central Auckland areas - including Mount Eden and Maungakiekie - fell about 13 percent.

Auckland Council Group CFO, Ross Tucker, says a few reasons have driven the slump.

"We've seen apartments fall 12 percent, converted flats fall 12 percent as well - also, we're seeing some of the areas where there's a lot of development potential have bigger than average falls."

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Auckland home values have fallen, down nine percent on CVs released in 2021.
New capital values are being released tomorrow for 630,000 properties, with inner-city suburbs taking a bigger hit.
Central Auckland areas - including Mount Eden and Maungakiekie - fell about 13 percent.
Auckland Council Group CFO, Ross Tucker, says a few reasons have driven the slump.
"We've seen apartments fall 12 percent, converted flats fall 12 percent as well - also, we're seeing some of the areas where there's a lot of development potential have bigger than average falls."
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Ross Tucker: Auckland Council Group CFO explains why Auckland home values have dropped

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/92674e4f-d146-4932-976a-b2f700648f3e/transcript