House prices to peak next year on new supply, lower migration: Infometrics

Mon, 25 Jul 2016

By Paul McBeth July 25 (BusinessDesk) - New Zealand house prices will rise another 17 percent before peaking late next year as accelerating building activity takes time to meet the imbalance between a lack of housing stock and growing demand, says economic consultancy Infometrics. The Wellington-based firm sees 2017 as a peak for the market. It forecasts a fall-off in demand as the rapid inflow of new migrants and Kiwis staying at home starts to ease, while new building eats into the supply shortage. From that peak, Infometrics predicts...

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