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

An 'orderly retreat'? House prices to drop 18%, says Jarden
House price fall sees re-rating of Fletcher Building (Image: BusinessDesk)
Brent Melville
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,...

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