Affected by concerns about the war in Iran, house prices in New Zealand are approaching a three-year low.

New Zealand house prices fell for the third consecutive month in June, nearing the lowest point in nearly three years, further exacerbating signs of an economic slowdown as the global oil crisis hits household income and consumer confidence. Wellington real estate consulting firm Cotality cited its housing value index on Thursday, stating that prices fell by 0.2% from revised prices in May. In just three months, house prices have dropped by 0.8%, reaching their lowest level since July 2023.