House prices braced for a storm

In Australia and New Zealand, prices jumped by more than 20% last year. (Image: Getty)

Mon, 27 Jun 2022

Stocks are sinking, a cost-of-living crisis is in full swing and the spectre of global recession looms. But you wouldn’t know it by looking at the rich world’s housing markets, many of which continue to break records. Homes in America and Britain are selling faster than ever. House prices in Canada have soared by 26% since the start of the pandemic. The average property in New Zealand could set you back more than NZ$1m, an increase of nearly 46% since 2019. For more than a decade homeowners benefited from ultra-low...

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