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The One Roof Velocity house value index has revealed a drop in property value across the country.
Major cities like Auckland, Wellington and Hamilton have all experienced drops. However, more rural areas such as Southland, Canterbury and Northland have all seen a rise.
CEO of real estate at Velocity Helen O’Sullivan told Mike Hosking that although the prices have dropped, the real estate market is still healthy.
She said ‘Volumes are a key indicator, and we’re seeing those pick up’
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