Budget 2022

House prices expected to drop 5%

Jem Traylen
Thu, 19 May 2022

House prices expected to drop 5%
Real house prices are forecast to fall 17.8% between December 2021 and June 2026
Jem Traylen
Thu, 19 May 2022
The Treasury expects house prices to fall 5% in 2022 and a further 1.5% in 2023, weakening the outlook for residential investment.After adjusting for inflation, the Budget economic and fiscal update forecasts real house prices to fall 17.8% between December 2021 and June 2026 but said they would still be 12% higher than when the covid pandemic began.Residential building consents reached a new record of 50,000 in the year ended March 2022, indicating a strong forward pipeline of residential investment in the year ahead.However, that strength was...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Markets market close
NZ sharemarket rebounds with Wall Street rally
Dan Brunskill | Mon, 27 Jun 2022

US markets rallied on Friday night as traders began thinking an economic slowdown would stop the US Federal Reserve from hiking interest rates.

Policy
Political donations over $5k to require declaration
Staff reporters | Mon, 27 Jun 2022

The changes require disclosure of donor identities for any party donations over $5,000 versus the current $15,000. 

Law & Regulation
Public class action fund needed: Law Com
Victoria Young | Mon, 27 Jun 2022

The Law Commission has finalised its report into class actions and litigation funding.

Sponsored
Investments to sustain the momentum of building in NZ

Classic Capital has opened its Land & Build fund to qualified wholesale and eligible investors.

Sponsored
High water marks: Watercare raises the tide on sustainability

The No.1 barrier to decarbonisation for NZ organisations is accurate measurement, says Microsoft’s Accelerating the Journey to Net Zero report.