NZ House prices will fall from December 2017 - Except Auckland
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New Zealand House prices will fall from December 2017 - Infometrics
RNZ, 27 July 2016
Economic forecastor, Infometrics, predicts house prices will continue to rise until December 2017.
After that they predict NZ prices could fall by 11 percent over the period until September 2019, particularly in the regions outside Auckland.
Infometrics chief forecaster Gareth Kiernan said those figures did not apply to Auckland, where Infometrics estimates there is a current undersupply of about 32,000 houses.
"Ironically one of the places we're not predicting price falls in any significance is Auckland, because it will take longer than a couple of years to sort that problem (undersupply) out."
"If building activity hits the levels we are predicting (by 2018), then there could eventually be some softening in house prices in Auckland and regional property markets in the 'halo' around Auckland."
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