New Zealand's house prices are projected to rise 7% this year, improving affordability in most regions.

New Zealand's housing market is expected to see a 7% increase in house prices this year, driven by falling mortgage rates and a recovering economy. However, a balanced supply and potential external factors like trade and political anxieties could disrupt this trend. Home affordability has improved by 9.3% nationally, thanks to lower mortgage rates and modest income growth. Despite rising house prices, 14 out of 16 regions saw better affordability, with only Northland and Southland experiencing declines.