‘Slow and low’: BNZ says housing market upturn will be like The Beastie Boys

Half of Realestate.co.nz’s 19 regions reported increases in new listings year-on-year. (Image: Bank of New Zealand)

Fri, 01 Dec 2023

BNZ says the housing market upturn is here – but “with apologies to The Beastie Boys, slow and low is the tempo”.In the bank’s final Property Pulse report of 2023, chief economist (not the American rapper) Mike Jones said house prices in New Zealand had “rounded the turn” and were now on the rise again.“High mortgage rates will stick around for most of next year, and the economy is stuck in low gear,” he wrote.“We see little reason to change our short-term house price inflation forecasts of...

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