After last year forecasting an 11% fall in New Zealand house prices by 2019, economic analysis and forecasting firm, Infometrics, has forecast a 12% decline in house values by 2020 on the back of falling population growth (net migration) and rising interest rates:
“Mortgage holders in Auckland look particularly vulnerable to even modest interest rate rises that are likely to occur in the next 2-3 years,” Mr Kiernan said.
