New Zealand house prices

According to the Real Estate Institute of New Zealand's House Price Index (HPI) for May, overall prices throughout the country declined 5.6% over the three ...

But if it's not going to be developed, there's a massive drop down to the kind of price point that a family can afford, and that price point continues to drop.Read less In the past, and sure this recession may be different, a lot of the better houses that you actually want to buy as a Family come off the market. In the past, and sure this recession may be different, a lot of the better houses that you actually want to buy as a Family come off the market. And it ain’t going to be pretty. I’m interested in what the second order effects are going to be. The risk of house prices falling to 50% of peak is definitely not zero - worse has happened in other countries and it's obviously a possibility here. The risk of house prices falling to 50% of peak is definitely not zero - worse has happened in other countries and it's obviously a possibility here. I think there'll be a big effect on the averages in Auckland, at least, from the collapse in demand for run-down larger suburban sections. But it's certainly not guaranteed, and I'd suggest such a big fall is unlikely. But it's certainly not guaranteed, and I'd suggest such a big fall is unlikely. I would love to make a wager with you on that. Surely people are going to consider other options than middle of the road National or Labour some day?