Budget 2022

House prices expected to drop 5%

Jem Traylen
Thu, 19 May 2022

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...

Unlock all stories
free for 10 days

Trustworthy, balanced journalism every day from our growing team of New Zealand business reporters and commentators, plus more in our weekend magazine section, The Life.

Instant News Alerts based on keywords you choose or journalists you follow
Our Daily Digest of all stories at 6am, midday or 6pm
Comprehensive business and markets coverage
News via email, web and Apple/Android apps

Try for 10 days without paying and if you’re not convinced cancel with just two clicks.

Find out more

Subscribe now

Name

E-Mail Address

Password

Confirm Password

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Cardholder's Name

Card

You will be charged in 10 days unless you cancel beforehand. We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service {{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Or Subscribe with Google

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Property FREE

Money Answers: how much mortgage can I actually afford?

Frances Cook | Sat, 25 Jun 2022

This week, readers ask how they should decide as a family what they can afford in terms of buying a house – and just because you can, should you?

Health

The eyes have it

The Economist | Sat, 25 Jun 2022

Short-sightedness used to be rare. Now it's growing across the globe. Tim Cross, The Economist's technology editor, investigates its rapid rise.

On the Money

On the Money: Don Braid, Fletcher, Steve Newman and more

Victoria Young | Sat, 25 Jun 2022

OTM this week: A bit of matchy-matchy for Don Braid, the reopening of Parliament's lawns, Eroad, Fletcher and more.

House prices expected to drop 5%

Subscribe now

Or Subscribe with Google

Not convinced yet?

Your company has a subscription

Team