They expect house prices to increase:
- 2.6% increase in the rest of 2023 (June – December)
- 2.7% in 2024
- 3.8% in 2025
Their forecasts suggest house prices have bottomed out sooner than they expected.
That lines up with other data that came out this week. On Tuesday new REINZ data showed the house prices increased in July.
Property prices rose 0.9% across NZ (in a single month). In Auckland prices were up 1.1%. Canterbury was up 1.3% and Otago 1.4%.
Prices are bouncing back.
But of course, that’s not the case for every region. And you’ve got to put that monthly change into context.
To help you do that for your region, this table shows the house price changes over the last month and year.
Just remember, if you find good news in this table … make sure you balance it out and keep reading the bad news below.