New Zealand Property Focus

The New Zealand housing market remains flat as buyers and sellers adopt a wait-and-see approach. Lower oil prices offer some upside relief, but rising interest rates keep the sector subdued.

Key Takeaways

• 1.Average nationwide house prices have stayed on a largely flat path this year with buyers and sellers both stepping back.
• 2.Falling global oil prices have reduced inflation pressures, providing a potential upside risk to the economic and housing market outlook.
• 3.The RBNZ is still expected to lift the OCR in the coming months as it returns policy settings toward neutral.

Table of Contents

• At a glance
• Summary
• Property Focus
• House prices showing resilience
• Falling oil prices brighten the economic outlook
• OCR likely still heading up
• Risks to our house price forecast are tilted to the upside
• Mortgage borrowing strategy
• Breakevens
• Key forecasts

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