Rate cuts haven’t pumped up house prices yet -Corelogic
CoreLogic’s Home Value Index reported a 0.5% drop in property values in September, marking the seventh consecutive month of decline and a total decrease of 4.7% since February. While values remain 16% higher than pre-COVID levels, they are nearly 18% below the post-COVID peak. In Auckland, most areas saw declines, indicating ongoing weakness in the housing market.