Page 8 - Quotable Value News Today

Explainer - House prices are continuing to drop at the same time interest rates are climbing - but what does that mean for sellers and buyers?

Scoop Community provides New Zealand Community news and views

Nelson moteliers feel "blindsided" after receiving significant increases in their commercial rates. Greens Motel owner Phil Neal said he was "devastated" after seeing his commercial rates increase by 52.44 per cent.

Some home buyers are already experiencing negative equity in their home as market prices continue to decline.

Figures from realestate.co.nz show auction listings have fallen by more than a third on a year ago, while listings with displayed prices have jumped by close to a quarter.

Aotearoa's average house price may be dipping, but in some corners of the country, the climb continues.

Business Scoop provides news and views on Business and Markets from New Zealand

Scoop Community provides New Zealand Community news and views

Aucklanders can see their updated property values from today with homes in Great Barrier Island soaring by 59 percent

The national valuer says all signs are pointing to a gradual correction in house prices, with a month-on-month drop in national values last month.