Million-dollar ‘shack’ in Sydney shows split with NZ market

Million-dollar ‘shack’ in Sydney shows split with NZ market
In NZ, the market is listless as vendors and buyers hold back. (Image: Bloomberg)
Bloomberg
By Swati Pandey and Ainsley Thomson Australian and New Zealand house prices soared together when the pandemic hit, fell together when interest rates rose – now they’ve parted ways.Home prices in Australia rose for a second straight month in April, while in NZ they began falling at the start of 2022 and the government doesn’t forecast gains until the third quarter of 2024.Driving this divergence are the Reserve Bank of Australia (RBA) and the Reserve Bank of NZ (RBNZ) – respectively one of the developed world’s...

More Property

Formcrete Construction owes $7.4m as liquidation unfolds
Property

Formcrete Construction owes $7.4m as liquidation unfolds

A large chunk of the debt is shareholder loans.

Riley Kennedy 03 Jul 2025
Court to decide if Du Val investors' claim can proceed
Property

Court to decide if Du Val investors' claim can proceed

Investors who swapped debt for equity accuse FMA of devaluing their shares.

Maria Slade 03 Jul 2025
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.

Garth Bray 02 Jul 2025