ASB expects 6% house price decline, rapid recovery

ASB expects 6% house price decline, rapid recovery
Brent Melville
ASB Bank is forecasting a 6 percent drop in national house prices this year, in the face of a deteriorating labour market, falling net migration and rental declines. But the bank expects the property market to get back to current levels next year, on the back of cheap credit and a gradual recovery in the labour market.Senior economist Mike Jones said March pricing data had confirmed that the New Zealand housing market had "barrelled into lockdown" with a full head of steam.With annual price gains in the month of up to 9...

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More Du Val shareholders suing
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More Du Val shareholders suing

A Du Val shareholder action against FMA now has 80% of minority shareholders signed up.

Triple Connection faces liquidation
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Triple Connection faces liquidation

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

Gregor Thompson 13 Dec 2024
Beachlands South development appeals settled
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
Winton 'stands to gain millions': MP
Property

Winton 'stands to gain millions': MP

The proposed fast-tracking of Sunfield is 'cronyism', local MP claims.

Maria Slade 11 Dec 2024