New Zealand’s housing correction begins

Tuesday 18 January 2022

Earlier this month, I tipped that New Zealand’s housing market was poised for a correction after experiencing record breaking growth of 27.6% 2021, according to CoreLogic:

Today, the REINZ released its house price index for December, which recorded a 1.6% monthly decline; although prices were still up 21.5% over the calendar year:

The next table shows the price movements across sub-markets:

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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.