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

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

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,...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Stay informed on business, government and financial developments across New Zealand.
Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Travel

Transylvania's last Saxons revive its stunning ghost villages

They fled Romania's communist dictator. Decades later, they've come home.

Agence France-Presse 5:00am

Health Opinion

Working later in life a lifesaver for some, a drag for others

'It keeps us healthy and gives us an extra reason to get up in the morning’.

The Washington Post 5:00am

Working later in life a lifesaver for some, a drag for others

Services

A box of unopened mail for a Xmas gift. What could go wrong?

Mystery packages popular in the US, but things can quickly go from fun to weird.

The Wall Street Journal 5:00am

A box of unopened mail for a Xmas gift. What could go wrong?

Sponsored

Why Kiwis are embracing Bitcoin ETFs

The once hard-to-access investment option is becoming mainstream.

Smart

Sponsored

Boost worker health, boost results

Research shows flexible workspaces improve health and productivity

Regus

More Property

Property

Triple Connection faces liquidation

The debt collector says the company "don't pay their bills".

Gregor Thompson 13 Dec 2024

Property

Beachlands South development appeals settled

Appeals challenging the approval of a plan change for the Beachlands South development have been settled, paving the way for the multi-billion dollar project to proceed.“The success of negotiating a sensible outcome means that the development process can now move forward with the...

Staff reporters 11 Dec 2024