New Zealand's property market shows mixed trends, with price increases in some suburbs and Auckland's market declining.
CoreLogic's recent data indicates a mixed landscape in New Zealand's property market. While suburbs like Kew, Invercargill, and Otautau have seen significant price increases, Auckland's market is declining, with East Tāmaki experiencing a drop of 6.9%. Chief economist Kelvin Davidson notes that cheaper areas have shown resilience, but overall market conditions remain weak. He anticipates ongoing price softening due to debt-to-income ratios and potential government interventions.
September 11, 2024
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