National house prices now down 16.2% from Nov 2021 peak

House prices rose 0.1% in February nationwide, and by 0.3% excluding Auckland, compared with January, but the annual decline increased to 14.2%.According to the Real Estate Institute’s house price index, the national decline from the November 2021 peak is now 16.2%, the same peak-to-present level as in January when the annual decline had been 13.9%. Sales volumes nationally were down 31.1% at 3,964 compared with February last year while sales in Auckland were down 41.4% at 1.049 from February last year.The number of days it took to s...