PremiumHome / PropertyAnne GibsonProperty Editor·NZ Herald·12 Jun, 2026 05:00 PM5 mins to read‌Liam Dann and Tamsyn Parker discuss what could be New Zealand's biggest property reset in decades.Auckland and Wellington home owners have had more than a quarter of a trillion dollars wiped off their theoretical or paper wealth, as residential property values plummeted.

Satish Ranchhod, a Westpac senior economist, calculated $271 billion as the reduced value after being asked how much had been lost on home

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