New Zealand House Prices Hit 30-Month Low as Buyers Hold Back

New Zealand house prices fell for a second straight month in January, hitting a two-and-a-half year low as buyers stay on the sidelines until they are more assured about the economic recovery.

Prices fell 0.1% from December when they dropped 0.2%, property consultancy Cotality said Thursday in Wellington citing its home value index. From a year earlier, the gauge fell 1%, taking it to the lowest since July 2023.