Housing market slump costs Auckland homeowners $140,000+

The housing market slump has cost homeowners in Auckland more than $140,000, NZ Herald reports. Homeowners in 57 Auckland suburbs have seen the value of their property drop more than $200,000 as rising interest rates and worsening inflation cause buyers to retreat from the market. James Wilson, head of valuations at Valocity, OneRoof’s data partner, said rising construction costs and worsening supply chain issues would also have an impact on the market.