What to make of NZ's housing market decline

What to make of NZ's housing market decline
With masks off and covid mandates lifting, spirits may also lift, but economic headwinds remain strong. (Image: Getty)
Warren Couillault
There were some stats issued this week that paint a diverging picture of the New Zealand economy.  On the positive side, and rather surprisingly, June quarter GDP recorded a 1.7% quarterly gain and a 1% annual average. This strength was broadly surprising to most economists.  On the negative side were the weak stats released concerning the NZ housing market, both in terms of prices and activity.  Although the GDP figures seemed to show reasonably robust activity in the June period, I’m worried by the 3.2% fall in household...

More Economy

Nearly $2b worth of ANZ mortgages overdue
Economy

Nearly $2b worth of ANZ mortgages overdue

That's up from $1.5b the year prior.

Riley Kennedy 08 May 2024
Weak red meat prices drop ANZCO Foods' profit nearly 60%
Economy

Weak red meat prices drop ANZCO Foods' profit nearly 60%

But, unlike other major processors, it still managed to turn a profit.

Riley Kennedy 07 May 2024
ANZ increases cash profit as net interest margins get squeezed
Economy

ANZ increases cash profit as net interest margins get squeezed

ANZ New Zealand has reported a 4% increase in its half-yearly profit despite pressure squeezing its margins.The bank's cash profit increased to $1.15 billion in the six months to March, up from $1.1b in the same period last year, but stable compared to the second half of its...

Riley Kennedy 07 May 2024
Beyond the headlines: Jobs data points to a divided NZ
Economy

Cameron Bagrie: Beyond the headlines: Jobs data points to a divided NZ

Greatest challenge is the pressure jump in joblessness puts on society and economy.

Cameron Bagrie 07 May 2024