Is the house price crash nearly over?

House prices in December were down 15% from the November 2021 peak. (Image: Depositphotos)

Thu, 19 Jan 2023

Economists are sticking to their forecasts that house prices are set to fall more than 20% from their November 2021 peak, but the data is showing the rate of decline has slowed.The latest figures for December show prices were down 13.7% from a year earlier, the same as the annual decline in November, and that took the decline from the peak to 15%, as measured by the Real Estate Institute’s house price index.That’s a little surprising to me because the Reserve Bank of New Zealand (RBNZ) hiked its official cash rate (OCR) by an unprec...

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