NZ housing market remains subdued

ANZ Bank says downside risks look to be materialising. (Image: Getty)

Mon, 17 Jun 2024

The New Zealand housing market continued to track sideways in May.The seasonally adjusted Real Estate Institute of NZ (Reinz) House Price Index fell 0.4% month-on-month in May as sales came in on the softer side for this time of year, said ANZ Bank senior economist Miles Workman.The HPI adjusts for different properties sold each month.“Downside risks to our forecast for a modest 3% rise in house prices over 2024 appear to be materialising.”Days to sell fell by 1 to 42, “which is still on the looser side of history and indicati...

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