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)

Sat, 17 Sep 2022

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...

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