Advertisement
After experiencing one of the world’s largest house price booms during the COVID-19 pandemic, New Zealand has subsequently experienced one of the greatest price declines.
As illustrated below by Justin Fabo from Antipodean Macro, New Zealand home prices have declined by more than 16% from their previous market peak in early 2022, with all major markets recording hefty price falls:
New Zealand home prices have declined by more than 30% in real inflation-adjusted terms, back to 2019 levels:
Advertisement
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
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.