ASB forecasts house prices to fall nearly 40%

Tue, 13 Dec 2022

ASB Bank is now predicting that the peak-to-trough fall in house prices “is likely to be nearer 40%” after inflation.The bank’s forecast is that nominal prices will fall 25% from their late 2021 peak and will trough in mid-2024, with inflation, currently running at an annual 7.2%, doing the rest of the work.ASB said if its forecast proves correct, that will erode most but not all of the post-covid gains in house prices – they rose more than 40% between March 2020 and November 2021.The Real Estate Institute’s latest...

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