The independent global economics researcher that was among the first to pick house price falls in New Zealand this year is now tipping prices falls for "several' other "vulnerable" countries as well. "House price inflation in these countries is already easing. (We currently expect house price inflation there to slow to zero.)" Redwood said the house price falls will drag on economic activity, although it might take until next year for the effects to be fully felt. House price falls will also dent consumer spending by knocking confidence and reducing collateral."

Source: Stuff June 14, 2022 16:29 UTC