NZ house prices could follow Australia's down: ASB

Mon, 26 Nov 2018

By Jenny Ruth Nov. 26 (BusinessDesk) - Australian house prices are falling and prices here tend to follow suit with a peak impact after about six months, according to ASB Bank economist Mark Smith. Australian house prices are down about 3 percent from their October 2017 peak with the declines being most acute in the major centres. Sydney prices have fallen about 7.5 percent from their June 2017 peak and Melbourne prices are down about 5 percent, Smith says. The latest Real Estate Institute of New Zealand’s house price index shows price...

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