{"id":77410,"date":"2025-10-14T08:23:12","date_gmt":"2025-10-14T08:23:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/77410\/"},"modified":"2025-10-14T08:23:12","modified_gmt":"2025-10-14T08:23:12","slug":"housing-market-continues-to-slide-major-cities-worst-affected-2","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/77410\/","title":{"rendered":"Housing market continues to slide, major cities worst affected"},"content":{"rendered":"

QV spokesperson Andrea Rush said buyers have the advantage in many regions.<\/p>\n

\u201cIt remains a buyers\u2019 market; however, deposit requirements and the ability to service mortgages remain barriers for many first-home buyers, and interest rates are still well above Covid-19 levels.\u201d<\/p>\n

She said lower prices were making houses more affordable in some regions, while there was a broad hope that lower interest rates would spark the market.<\/p>\n

\u201cLower mortgage rates may encourage a modest rise in activity, but any rebound in prices is likely to remain constrained by the broader economic recession, cost-of-living pressures, rising unemployment, and ongoing global uncertainty.\u201d<\/p>\n

After last week\u2019s RBNZ cash rate cut, most retail banks lowered<\/a> the lending variable and fixed rates.<\/p>\n

Rush said demand was strongest for modern, well-maintained homes that buyers could move in to, but multi-unit townhouses and apartments lacking storage, parking and other facilities were taking longer to sell and forcing sellers to cut prices.<\/p>\n

A handful of regions were posting modest gains; Queenstown and Invercargill were the strongest with 1.8% and 1.6% respectively.<\/p>\n

There were gains also in New Plymouth, Gisborne, and Hastings, and no change in Tauranga.<\/p>\n

But reports from regional QV staff pointed to increased interest from potential buyers, and vendors in many areas needing to negotiate to try to get sales over the line.<\/p>\n","protected":false},"excerpt":{"rendered":"QV spokesperson Andrea Rush said buyers have the advantage in many regions. \u201cIt remains a buyers\u2019 market; however,…\n","protected":false},"author":2,"featured_media":77411,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[41110,138,3071,13982,3339,661,225,111,139,69,46201,61,8598],"class_list":["post-77410","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-affected","tag-business","tag-cities","tag-continues","tag-housing","tag-major","tag-market","tag-new-zealand","tag-newzealand","tag-nz","tag-slide","tag-to","tag-worst"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/77410","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=77410"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/77410\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/77411"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=77410"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=77410"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=77410"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}