In the last 6 months, we have seen the biggest drop in house prices since RIENZ records began in the early 1990's.

The median price in New Zealand has decreased by nearly 10 percent, with Wellington in particular experiencing a 22 percent price decrease.

REINZ Chief Executive Jen Baird is with us to explain what's going on with the current property market, and how societal factors are lowering prices and giving first home buyers a new advantage.

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