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It feels like we're in stasis at the moment—things aren't necessarily going backwards, but they're not getting better in a hurry either. But there are some silver linings out there, especially for first home buyers. Here's the latest on interest rates, the New Zealand housing market and economy.
Now down around 20% on average from their 2021 peak, house prices finally seem to have stabilised in recent months—staying largely flat over the last year or so. So are we through the worst of our latest housing market downturn? Or is there a long, slow road to recovery ahead?
Kiwi homeowners have just endured one of the sharpest (and soon to be longest) housing market downturns in recent history. No one can predict exactly what comes next—but past experience gives us a pretty good idea of the patterns to look for, and where things might end up.
Watch our latest update on interest rates and the property market - covering house prices, the economy, the OCR and where mortgage rates might be heading.
