The Auckland market had been stable with a median price hovering about $850,000 for three-and-a-half years. A Colliers International survey showed a sharp increase in the number of people expecting house prices to rise in the next year. "In addition to the surge in Auckland, median price expectations in Rotorua, New Plymouth, Palmerston North, Christchurch and Dunedin have almost doubled since the last survey." Meanwhile, Ratings house Fitch said it expected nationwide house price growth of 3 per cent in 2020 and 3.5 per cent in 2021, with the strongest lift in Christchurch and Auckland. ASB has also recalculated its expectations – but at a much higher level – expecting 6.5 per cent price growth next year.

Source: Stuff December 18, 2019 22:45 UTC