Below is independent economist Tony Alexander’s analysis of the latest plunge in New Zealand house prices, where value declines nationally accelerated to -1.7% in December 2022 to be down -15.1% from their November 2021 peak. The only house price data I look at, analyse, and comment on are the REINZ House Price Indexes. On average around the country in December house prices fell by 1.7%. These rate rises produced immediate weakness in the many readings of housing market sentiment garnered from my monthly surveys. I have sufficiently proven to myself that I cannot predict house price change so will refrain from anything too specific.
