New zealand real estate continues to fall

Residential property values stabilised in January, but continued to slide in some provincial and rural areas, Quotable Value said. Values on average are now 1.5 per cent below the same time last year and 5.8 per cent below the market peak of late 2007.

Qv.co.nz research director Jonno Ingerson said while nationwide values had been declining over the past few months, the rate of decline was slowing and nationwide values remained unchanged between December and January. However there remained "considerable variability" between areas, he said.

"Values across the combined main centres have been stabilising, while across combined provincial and rural areas values have continued to slide," he said.

Source: NZ Herald