Feature article
Property values drift down -0.4% as the market enters a holding pattern
Will house prices crash or surge? Neither likely.
AI summary
New Zealand's property market is in a holding pattern, with values drifting down -0.4% in August according to Cotality. This is a modest drift, not a renewed slump, with national values only 1% below last year.
While Auckland and Wellington have seen slight falls, other centres like Christchurch and Queenstown remain resilient.
Improved affordability for buyers is being offset by economic fragility and election uncertainty, meaning a major shift isn't expected until the labour market strengthens.
A downwards drift, not a renewed slump
Main centres split as regional resilience shines
Improved affordability, but no boom in sight
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