NZ’s property market is cruising for a bruising

Thursday, 25 November 2021

The latest house price results from the REINZ shows that New Zealand’s property market is still booming, with prices growing a whopping 30% over the 12 months to October:

However, the insane price growth alongside recent policy actions have left New Zealand’s property market in a precarious position in 2022, with potentially large price falls in the offing.

Yesterday, the RBNZ hiked interest rates for the second consecutive month to 0.75% and raised its forward guidance:

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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.