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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 late 2017 levels in real terms following a near five-year decline:
Chart from Justin Fabo (Antipodean Macro)
New data from Cotality likewise shows that New Zealand’s house price crash has reasserted itself following six 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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