According to a new property report from CoreLogic, the property market downturn in New Zealand seems to be coming to an end as house prices have star
According to a new property report from CoreLogic, the property market downturn in New Zealand seems to be coming to an end as house prices have started to rise in key markets. In July, the national house price index dropped by only 0.4 percent, the smallest decline since January, indicating a deceleration in the decline of prices. The report highlights signs of prices stabilizing or even growing in some areas of Wellington and Auckland. Several factors, including lower mortgage rates, easing of LVR rules, and solid migration flows, point to the trough for house prices. However, experts suggest that the next phase of the cycle might still be relatively muted due to affordability challenges and potential debt-to-income ratio caps for mortgages in 2024.
https://www.corelogic.co.nz/news-research/reports/property-report
