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Ross Tucker: Auckland Council Group CFO explains why Auckland home values have dropped
Published 1 year ago
Description
Auckland home values have fallen, down nine percent on CVs released in 2021.
New capital values are being released tomorrow for 630,000 properties, with inner-city suburbs taking a bigger hit.
Central Auckland areas - including Mount Eden and Maungakiekie - fell about 13 percent.
Auckland Council Group CFO, Ross Tucker, says a few reasons have driven the slump.
"We've seen apartments fall 12 percent, converted flats fall 12 percent as well - also, we're seeing some of the areas where there's a lot of development potential have bigger than average falls."
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