House prices expected to drop 5%

House prices expected to drop 5%
Real house prices are forecast to fall 17.8% between December 2021 and June 2026
Jem Traylen
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...

More Property

Vector faces fresh complaint on unfair contract terms
Property

Vector faces fresh complaint on unfair contract terms

Vector faces more scrutiny over contract terms after Commerce Commission advice.

Vector ‘on notice’ for unfair contract terms; complainant now facing higher costs
Property

Vector ‘on notice’ for unfair contract terms; complainant now facing higher costs

A developer’s Fair Trading win against Vector feels like a loss.

Garth Bray 01 Jul 2025
Investore buys New Lynn Bunnings site for $43 million
Property

Investore buys New Lynn Bunnings site for $43 million

Investore Property has struck a deal to acquire the Bunnings complex in New Lynn, Auckland.The company told the market on Friday it had entered an unconditional agreement to acquire the property for $43 million.The 2.2-hectare site at 2–12 Titirangi Rd features an 11,000sq m buil...

Staff reporters 27 Jun 2025