House prices have been skyrocketing across New Zealand over the last year. The property market is expected to slow over the second half of this year, but economists are not expecting a sharp drop as it resists Government attempts to slow it down. Westpac senior economist Michael Gordon said the market seemed “perky” and did not offer much evidence yet of a cooling market. “After all, there’s been a lot thrown at the high-flying property market in the past couple of months. ‘Still, we reiterate our view that a hard landing for the housing market is unlikely.

Source: Stuff May 12, 2021 21:38 UTC