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Auckland's house-price drop ends Kiwi property boom

Foreigners will be banned from buying existing homes to make housing more affordable for first-time buyers

Published Thu, Nov 2, 2017 · 09:50 PM
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Wellington

HOUSE prices in New Zealand's largest city posted their first annual decline in six years in October, bringing an end to the nation's property boom.

Prices in the Auckland region fell 0.6 per cent from a year earlier, helping to slow the rate of growth nationwide to 3.9 per cent, a five-year low, property research agency Quotable Value (QV) said on Thursday.

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