According to analysts at ANZ, the NZ housing market is about as stable as it gets, with sales flat and price pressures gradually moderating.
Key Quotes
“Underlying this, a number of opposing forces are at play. Strong population growth, pent-up demand, supportive financial conditions and further eventual easing of loan-to-value ratio restrictions will support prices. Bank prudence, affordability constraints, and government policy changes are expected to keep prices and activity contained. Our current forecast is for stability in the housing market, but we suspect there could be some bumps in the road ahead.”
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