Coronavirus

ASB expects 6% house price decline, rapid recovery

Brent Melville
Fri, 24 Apr 2020

ASB expects 6% house price decline, rapid recovery
Brent Melville
Fri, 24 Apr 2020
ASB Bank is forecasting a 6 percent drop in national house prices this year, in the face of a deteriorating labour market, falling net migration and rental declines. But the bank expects the property market to get back to current levels next year, on the back of cheap credit and a gradual recovery in the labour market.Senior economist Mike Jones said March pricing data had confirmed that the New Zealand housing market had "barrelled into lockdown" with a full head of steam.With annual price gains in the month of up to 9...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Markets
Govt invests $30m with coastal shipping 'winners'
Brent Melville | Wed, 25 May 2022

Government investment is seen as the starting point to creating a viable coastal shipping sector.

Media
Media firms adapt to avoid poaching
Daniel Dunkley | Wed, 25 May 2022

They call it the Great Resignation – a global phenomenon which has seen people leave their jobs in their droves since the pandemic. But in competitive sectors like advertising and communications, firms are fighting back.

Tourism
Are hotel prices 'courageous' or outrageous?
Brent Melville | Wed, 25 May 2022

Tourists can expect to see a jump in their hotel bills on the back of reduced availability, and as the industry scrambles to reinvent itself after a two-year hiatus.

Partner content
Small business lessons for attracting and retaining staff

Employers battling through the ‘Great Resignation’ are now faced with the ‘Great Brain Drain’.

Partner content
People leaders are key to wellbeing but still need help

One in three people say they have experienced an issue with an unsupportive manager