Property

An 'orderly retreat'? House prices to drop 18%, says Jarden

Brent Melville
Sat, 04 Jun 2022

An 'orderly retreat'? House prices to drop 18%, says Jarden

House price fall sees re-rating of Fletcher Building (Image: BusinessDesk)

Brent Melville
Sat, 04 Jun 2022

Jarden expects house prices to tank by $165,000 before hitting a base median price of $740,000 by December next year.Grant Swanepoel, an analyst with the investment house, said the expected 18% drop was against a backdrop of a dramatic slowing in housing demand by the end of this year and as excess building consents “worked through the build cycle”.That, he said, will see volumes remain at capacity through the 2024 financial year.According to Real Estate Institute (REINZ) numbers, New Zealand house prices peaked at a median of $965,...

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An 'orderly retreat'? House prices to drop 18%, says Jarden

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