Million-dollar ‘shack’ in Sydney shows split with NZ market

In NZ, the market is listless as vendors and buyers hold back. (Image: Bloomberg)

Wed, 24 May 2023

By Swati Pandey and Ainsley Thomson Australian and New Zealand house prices soared together when the pandemic hit, fell together when interest rates rose – now they’ve parted ways.Home prices in Australia rose for a second straight month in April, while in NZ they began falling at the start of 2022 and the government doesn’t forecast gains until the third quarter of 2024.Driving this divergence are the Reserve Bank of Australia (RBA) and the Reserve Bank of NZ (RBNZ) – respectively one of the developed world’s...

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