Falling valuations to desperate landlords: What will happen to house prices and rents in 2025?

For better or worse, house prices have been a cornerstone of our economy for decades. But a rise in prices now put home ownership out of reach for many Kiwis. Things could be changing though. Wellington City’s new rateable valuations show that, on average, house values have plummeted 24.4% since 2021. It comes as the city -- which once made headlines for its hotly contested rental market -- now sees landlords fighting to fill their homes. So, is this a nationwide phenomenon, and is the dream of owning your own home becoming more of a reality? Today on The Front Page, co-host of Opes Partners’ The Property Academy Podcast, Ed McKnight, is with us to run through the latest in property. Follow The Front Page on iHeartRadio, Apple Podcasts, Spotify or wherever you get your podcasts. You can read more about this and other stories in the New Zealand Herald, online at nzherald.co.nz, or tune in to news bulletins across the NZME network. Host: Chelsea DanielsSound Engineer/Producer: Richard MartinProducer: Ethan SillsSee omnystudio.com/listener for privacy information.