ANZ Bank still cautious on outlook for housing

Despite some positive data, ANZ remains cautious. (Image: Supplied)

Fri, 28 Jul 2023

A slight lift in June house prices was stronger than expected but is unlikely to be a harbinger of a string of upward surprises, said ANZ Bank.House prices broke out of an 18-month downtrend in June, with the REINZ House Price Index (HPI) rising a seasonally adjusted 0.7% month on month. Before the seasonal adjustment, the HPI rose 0.4% month on month.“This was on the slightly stronger side of our expectations,” ANZ Bank economists said in a note.According to ANZ, house sales were also higher in June after seasonal ad...

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