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According to the Real Estate Institute of New Zealand’s (REINZ) leading house price index, which is used by the Reserve Bank, home prices nationally have collapsed back to early 2018 levels in real terms following a near five-year decline:
Chart by Justin Fabo from Antipodeam Macro
New data from Cotality likewise shows that New Zealand’s house price crash has reasserted itself following five consecutive months of decline.
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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.
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