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Recently, we’ve seen New Zealand house prices stay mostly flat. After a small increase late last year when mortgage rates dropped, prices haven’t moved much, going up by only about 0.1% each month lately.
You might wonder why the market isn’t growing faster, especially since mortgage rates have come down from over 7% to below 5%. Here are a few key reasons:
Recent data indicates that New Zealand’s rental market is currently experiencing high supply levels, offering favorable conditions for tenants. This increased availability has contributed to slightly lower average rental prices in many areas. Key reasons include properties shifting from short-term to long-term rentals and a slower sales market leading owners to rent out properties instead.
