Auckland townhouses: no glut, no crisis and not to blame for house price falls
New research suggests that the decline in Auckland townhouse prices is consistent with the broader residential market downturn rather than an oversupply issue. Data shows a 23.6% drop since 2021, mirroring the performance of traditional houses.
Why it matters
This analysis challenges common market perceptions regarding housing supply and helps investors understand the current state of the New Zealand property market.
Share twitter Share linkedin Share link Where are New Zealand's most affordable homes? Opes Partners economist Ed McKnight pinpoints the cheapest towns to buy in, and the results may surprise you. Video / OneRoof A widely held belief that the downturn hit New Zealand's townhouses harder than the rest of the housing market is mistaken, new research suggests.
While townhouses have dropped in price in many locations, the decline is in keeping with the fall in the overall residential market, says Nick Goodall, head of research for property insights firm Cotality.
Goodall research shows the average value of townhouses in Auckland fell by 23.6% since the height of the post-Covid market at the end of 2021 - almost a percentage point lower than the value decline for traditional houses in the city, and not much higher than the nationwide decline of 18%.
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