Four homes – $43,000 lost in four months

Four properties, four months and $43,000 lost.

That’s how much the weakening property market has slashed house prices in a Sunday Star-Times valuation investigation.

We tracked four case-study houses in Auckland, Hamilton, Wellington and Christchurch, and asked Quotable Value to give us “before and after” estimates of their worth over a four-month period. The value of one property plummeted $22,000, while the best off lost just $5000 in the same period.

Quotable Value spokesman Mark Dow says the changing prices what the house would be most likely to get if it went on the market tomorrow emphasised the importance of buyers and sellers getting up-to-date information.

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