Is Australia’s housing bust spreading to New Zealand?

Wednesday, 13 February 2019

The property downturn appears to be spreading into New Zealand, with the latest valuation data from Quotable Value revealing that average residential property values in Auckland were almost 1% lower year-on-year in January, whereas the rate of price growth has also declined sharply across the rest of New Zealand:

The latest RBNZ Survey of Expectations also shows a sharp deceleration in house price growth in 2019, from 2.86% three months ago to 1.91% currently:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.